Avon Looks To Hire New CEO
RENEE MONTAGNE, HOST:
NPR's business news starts with a new Avon lady.
Avon is knocking on doors looking for its next chief executive. The new leader doesn't have to be a woman, but the company does want to replace long-time CEO Andrea Jung. Jung has been CEO and chairman of the global door-to-door cosmetic seller for 12 years. Lately she's been under pressure as sales and profits have slowed. Avon's stock price has tumbled. The company is also under investigation for possible violation of overseas bribery laws. Andrea Jung will stay on as chairman of the company, but a new CEO will handle day-to-day operations. Transcript provided by NPR, Copyright NPR.