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Avon Announces CFO Transition

Sep 8, 2014

NEW YORK, Sept. 8, 2014 /PRNewswire/ -- Avon Products, Inc. (NYSE: AVP) today announced that Kimberly Ross, Executive Vice President and Chief Financial Officer, has resigned effective October 2, 2014. Ms. Ross joined Avon in 2011.   

Robert Loughran, Vice President and Corporate Controller, will be appointed Avon's acting Chief Financial Officer effective October 2, 2014, while the company completes the search process for a permanent CFO.

"Kimberly has been a strong leader for Avon over the past three years. I appreciate her partnership as we've worked together on Avon's turnaround journey. We wish her all the best in her new role," said Sheri McCoy, Chief Executive Officer of Avon Products, Inc. "We have an outstanding finance leadership team, and I have full confidence in Bob and the team during this transition period."

"I'm proud of the work that's been accomplished by the team at Avon. I believe it is laying the right foundation for the future, and I look forward to working with Bob and Sheri during this transition," said Ms. Ross. 

Mr. Loughran has been with Avon for 10 years, serving as Vice President and Controller since 2012. He joined the company as Assistant Controller in 2004. Mr. Loughran is a Certified Public Accountant who, prior to Avon, spent 15 years in various financial reporting and accounting positions at public companies, and in public accounting roles at PricewaterhouseCoopers LLP and Deloitte & Touche LLP.

About Avon:
Avon, the company for women, is a leading global beauty company, with $10 billion in annual revenue. As one of the world's largest direct sellers, Avon is sold through more than 6 million active independent Avon Sales Representatives. Avon products are available in over 100 countries, and the product line includes color cosmetics, skincare, fragrance, and fashion and home products, featuring such well-recognized brand names as Avon Color, ANEW, Skin-So-Soft, Advance Techniques, and mark. Learn more about Avon and its products at www.avoncompany.com.

Forward-Looking Statements:
Certain statements made in this release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Risks, uncertainties and other factors exist that may cause results to differ materially from those set forth in these forward-looking statements. Any forward-looking statements speak only as of the date they are made. Avon Products, Inc. does not undertake to update any such forward-looking statements.

SOURCE Avon Products, Inc.

For further information: MEDIA: Jennifer Vargas, 212-282-5404, INVESTORS: Amy Chasen, 212-282-5320

 
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