Corporate Press Releases

Avon Names Gina R. Boswell as Senior Vice President, Corporate Strategy & Business Development

Jun 17, 2003

Avon Products, Inc. (NYSE: AVP) today named Gina R. Boswell as senior vice president, corporate strategy & business development, effective June 30. She will report to Andrea Jung, chairman and chief executive officer.

In the newly created position, Ms. Boswell will have responsibility for helping to develop and implement Avon's growth strategies, and for planning both internal and external initiatives that complement Avon's core competencies in beauty marketing and direct selling.

Ms. Boswell, age 40, comes to Avon from Ford Motor Company, where she worked since 1999 and advanced through increasingly responsible positions to eventually lead the business strategy for Ford's global enterprise. In this role, she helped set the strategic agenda for the corporation and played a key role in accelerating Ford's Revitalization Plan.

In earlier positions, she had line responsibility for the company's vehicle personalization business, and led development of Ford's consumer-focused e-business, which included the establishment of marketing partnerships and alliances, such as

Prior to Ford, Ms. Boswell served at The Estee Lauder Companies Inc., where from 1997 to 1999 she was vice president, new business development. In this capacity, she developed and implemented the company's acquisition strategy and completed major transactions such as Estee Lauder's purchase of Aveda and Jane. She also helped establish strategic marketing alliances with Donna Karan and other well-known brand names. She joined Estee Lauder in 1993.

Ms. Boswell graduated summa cum laude from Boston University with a BS in Business Administration and received a Masters degree from the Yale School of Management.

"Gina is a world-class business strategist with beauty industry expertise and outstanding skills for envisioning and implementing new growth initiatives," said Andrea Jung, Avon chairman and chief executive officer. "Her track-record in advancing the strategic agendas at major global corporations, plus her insightful understanding of emerging consumer trends, make her a welcome addition to Avon as we strengthen our management team and accelerate the transformation of the company. Gina's strategic and corporate development skills will help us leverage and expand our existing assets and products in keeping with our corporate platform as the Company for Women."

Avon is the world's leading direct seller of beauty and related products, with $6.2 billion in annual revenues. Avon markets to women in 143 countries through 3.9 million independent sales Representatives. Avon product lines include such recognizable brands as Avon Color, Anew, Skin-So-Soft, Advance Techniques Hair Care, beComing and Avon Wellness. Avon also markets an extensive line of fashion jewelry and apparel. More information about Avon and its products can be found on the company's web site

SOURCE: Avon Products, Inc.

CONTACT: Media, Victor Beaudet, +1-212-282-5344, Investor, Renee
Johansen or Rob Foresti, +1-212-282-5320, all of Avon Products, Inc.

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