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Avon Names Lou Mignone Group Vice President, Supply Chain

PRNewswire
NEW YORK
Jul 17, 2001

Avon Products, Inc. (NYSE: AVP) today announced that Lou Mignone has been named group vice president, supply chain, effective August 6, 2001.

In the newly created position, Mr. Mignone, age 55, will be responsible for the company's continuing efforts to integrate and align all elements of its supply chain in the U.S. These efforts include sourcing of raw materials and packaging components, manufacturing, shipping, distribution, and order entry. He will report to Brian Connolly, president, Avon U.S.

Mr. Mignone joins Avon from the Colgate-Palmolive Company (NYSE: CL), where as vice president, supply chain, he integrated and aligned the entire customer supply process, which increased speed-to-market and generated substantial cost savings and a reduction in working capital. Colgate today is widely recognized as a customer service leader in the U.S. marketplace. As a result of this success, he acquired additional responsibilities for sales in the U.S. He joined Colgate in 1991.

Before that, Mr. Mignone spent 18 years at Clairol, where he held a wide range of positions in manufacturing, logistics, information technology, customer service and sales.

"We are delighted that Lou is bringing his world-class supply chain expertise to Avon," said Susan J. Kropf, Avon's president and chief operating officer. "His proven abilities will help drive continuing margin expansion as Avon evolves its ongoing business process redesign programs to a bolder, more transformational phase. Given the strategic importance of this initiative to Avon's operating results, Lou's addition will clearly strengthen our senior management team in the U.S."

Since 1997, Avon has been pursuing a program of business process redesign (BPR), which has resulted in approximately $400 million in cost savings and helped increase operating margin by 3.2 points. In addition, BPR initiatives enabled Avon to invest more than $100 million in customer growth strategies in 2000.

Avon is the world's leading direct seller of beauty and related products, with $5.7 billion in annual revenues. Avon markets to women in 139 countries through 3.4 million independent sales representatives. Avon product lines include such recognizable brands as Anew, Avon Color, Skin-So-Soft and Advanced Techniques Hair Care. Avon also markets an extensive line of fashion jewelry, apparel, gifts and collectibles. More information about Avon and its products can be found on the company's award-winning web site: http://www.avon.com/.

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SOURCE: Avon Products, Inc.

Contact: Media - Victor Beaudet, +1-212-282-5344, or Brian Martin,
+1-212-282-5103, Investors - Carol Murray-Negron or Renee Johansen,
+1-212-282-5320, all for Avon Products, Inc.

Website: http://www.avon.com/

Company News On-Call: http://www.prnewswire.com/cnoc/comp/079575.html

 
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