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Fragrance maker Avon announces retirement of Susan Kropf

13
Mar '06
Fragrance maker Avon Products Inc announced that Susan J Kropf, President and Chief Operating Officer, has decided to retire following a 35-year career during which she advanced to become the company's number two executive and one of the most prominent executives in the beauty and direct-selling industries.

Avon said that Kropf, age 57, will step down from her duties as President and Chief Operating Officer effective July 1st and will retire from the company at the end of 2006.

A successor to Kropf will not be named, in line with the company's new global operating structure announced in December 2005, and all business units and support functions will report directly to Andrea Jung, Avon's Chairman and Chief Executive Officer.

Avon also noted that Kropf will not stand for reelection as a member of Avon's Board of Directors at the company's annual meeting of shareholders on May 4th.

Reflecting on her decision to retire, Ms. Kropf said that with a new operating structure in place and progress being made on their business turnaround plan, she is confident that Avon is now well-positioned to resume sustainable growth, and that the time is now right for her to act on this personal decision that she's been considering for some time.

Andrea Jung, Avon's Chairman of the Board and chief executive officer, said, "Susan has made countless important contributions during her remarkable 35-year career at Avon, which has spanned virtually everyarea of the business.


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