Avon Products Says Executive Carr Has Left Company
Avon Products Inc. (AVP), the cosmetics seller probing possible bribery of Chinese officials, said Kerry Carr has left the company.
Jennifer Vargas, an Avon spokeswoman, confirmed in an e- mail that Carr was no longer with the New York-based company. Vargas declined to confirm the timing of the departure and other details.
Carr served as head of internal audit from 2003 until August 2005 and left earlier this month, the Wall Street Journal reported today, citing people familiar with the matter. The Journal said Kevin Harnisch, Carr’s lawyer, declined to comment. Harnisch didn’t immediately return a telephone message from Bloomberg News.
Avon in May 2011 said it fired four executives who had been suspended as part of an investigation into compliance with the U.S. Foreign Corrupt Practices Act. Among those fired was Ian Rossetter, the former head of global internal audit, the Journal reported at the time. Avon said in October that the U.S. Securities and Exchange Commission also was looking into its foreign operations and dealings with analysts.
Avon in January said Charles Cramb, vice chairman of its developed market group and the company’s former chief financial officer, left in a “personnel action.”
Coty Inc., which has offered to buy Avon for $10 billion, has cited the probes as a reason it won’t consider raising the bid without a closer look at the company’s finances.
Avon fell 0.2 percent to $21.80 at the close in New York. The shares have gained 25 percent this year.
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