Avon Products Inc.’s Andrea Jung, the face of the door-to-door cosmetics seller for 13 years, will step down as executive chairman after a tenure that encompassed slumping earnings, a foreign-bribery investigation and a takeover attempt.
Jung, 54, who was chief executive officer from 1999 until April, will leave at the end of the year and continue as a senior adviser to the board beginning on Jan. 1., New York-based Avon said yesterday in a statement. Fred Hassan, a lead independent director, will succeed her and become non-executive chairman.
