Avon was founded in the States and has been headquartered here ever since. In October, the company’s leadership team began moving to the UK “and is on track for the [new] headquarters to be fully operational in January 2017,” affirms a recent press release from Avon Products.
Avon is not leaving the US entirely. R&D facilities in Suffern and Rye, New York will remain open. And as thegaurdian.com reports, the company will continue to be listed on the New York Stock Exchange.
The company’s North American business is, since March a privately owned company called New Avon LLC. Cerberus Capital Management is working to make that company profitable in this region. New Avon and Avon Products have separate headquarters.
Financial matters
Also as of January 1, 2017, Avon Products is bringing in Jamie Wilson to serve as both executive vice president and chief financial officer. Wilson will report directly to CEO Sheri McCoy, who commented on his fitness for the role, saying, “Jamie has a proven track record of strong financial leadership over an impressive and diverse career. That, along with his breadth of consumer expertise in international markets, will be immensely valuable as we continue to deliver on the Company's Transformation Plan.”
Wilson, who has held the CFO role and other strategic leadership positions at SABMiller, is eager to contribute to Avon. “I am very pleased to join the team of this iconic global brand during such a pivotal time for the Company,” he tells the press, adding, “I look forward to working with Sheri, Jim, and the entire Avon team to drive the Company's financial and strategic goals, while delivering on the Company's important mission of empowering women around the world.”
Operational details
James Scully, who has been the CFO and COO for the company, will remain COO in the coming year. He’ll “continue to be responsible for the Global Supply Chain and Information Technology functions, as well as lead the Project Management Office for Avon's Transformation Plan,” according to the press release.
“Avon has made significant progress over the last year, and I am happy to continue to be part of the team as we strategically position the Company for its next chapter,” Scully tells the press. “I look forward to continuing to drive forward our transformation plan and working with the entire Avon team as we position the Company to deliver sustainable, long-term profitable growth.”
And the company is glad to have Scully stay on: “Jim is an outstanding leader and has been instrumental in helping the Company navigate through the past two years as we addressed some of our key challenges and defined our Transformation Plan moving forward,” McCoy remarks in the press release. “I'm pleased that Jim has agreed to stay with Avon through 2017 to support the transition.”