June 22, 2017
Avon Appoints Jonathan Myers as Chief Operating Officer
London-based Avon Products Inc. announced the appointment of Jonathan Myers as Executive Vice President and Chief Operating Officer, effective Sept. 1. Myers will assume leadership of Avon’s Brand Marketing and Product Research & Development, Digital Information Technology and Global Supply Chain. He will be based at Avon’s headquarters in London and report directly to Avon’s Chief Executive Officer, Sheri McCoy.
Myers brings to Avon significant operational and management experience in global markets, including emerging markets. He has expertise in executing growth strategies, integrating teams and managing a complex and diverse range of customers and channels. At both Kellogg and Procter & Gamble, he led major brand and product programs to drive innovation, while pioneering e-commerce capabilities in China and the U.K. to increase awareness and trial of new products and categories. He also oversaw the rapid expansion of manufacturing capacity to support business growth in China, alongside implementing new supply and demand forecasting across different businesses and markets globally.
Most recently, Myers served as Kellogg’s Vice President, Western European Markets, and Managing Director, U.K. and Ireland, where he successfully built the business and strengthened the organization, including delivering accelerated sales growth on the acquired Pringles business. Prior to Kellogg, he had a successful 20-year career at Procter & Gamble, serving in various leadership roles, including General Manager, Oral Care and Feminine Care, China, where he significantly grew market share. Earlier in his career at P&G, he worked on a range of Beauty Care businesses.
“I am delighted to be joining Avon at such a critical time in the company’ transformation,” said Myers. “With a 130-year history, the largest global representative network and leadership positions across a number of key markets and categories, Avon is positioned as one of the world’s premier beauty brands. I look forward to working alongside Sheri and the new Avon leadership team to deliver sustainable growth by expanding our network, digitizing our operations and leveraging our dynamic portfolio of market-leading products.”
Planned Executive Leadership Changes
Myers’ appointment completes the series of planned executive leadership changes that have been taking place in recent months, as Avon ensures it has the leadership team in place to accelerate the next chapter of the transformation journey to sustainable profitable growth.
Building out the leadership team to execute Avon’s three-year strategic growth plan represents the achievement of an important part of the transformation journey. During 2016, Avon created the platform for the future growth of the business. It entered into a strategic partnership with affiliates of Cerberus Capital Management L.P. that involved a $435 million investment in Avon and separation of Avon’s North America business into a privately held company, majority-owned and managed by Cerberus. It also reduced balance sheet leverage, extended the maturity of the debt portfolio, and achieved $180 million of annualized savings. In 2017, the company moved the corporate headquarters to the U.K., and the growth plans have been refined and the key enablers to drive change are being put in place.
The company has been making broad-based changes to its leadership team. Recent appointments include Miguel Fernandez as Global President and James Thompson as General Counsel and Chief Ethics & Compliance Officer. In January, Jamie Wilson joined as Chief Financial Officer, having previously held the position of Chief Finance Officer of SABMiller.
Chan Galbato, Chairman of Avon, commented, “Our Board and management team, under Sheri McCoy’s leadership, are committed to the turnaround of Avon’s business and are continuing to ensure the business executes on its strategic plan to create consistent, sustainable and profitable growth. This latest appointment completes the executive team required to take Avon on to the next stage of the journey.”
“Jonathan’s appointment and the other executive leadership appointments we have recently announced ensure we have the strong, seasoned leadership team in place to drive and accelerate the pace of change in the next chapter of our journey to profitable growth,” said McCoy. “During 2016, we established the basis for our transformation, separating the North American business, strengthening our balance sheet and driving out cost. In 2017, we’ve refined our growth roadmap and put in place the enablers to drive the necessary changes to achieve our stated long-term financial goals.”
Fernando J. Acosta, Avon’s Executive Vice President and Chief Marketing and Social Selling Officer, has decided not to relocate to the U.K. and will therefore be leaving the company on Nov. 1. James S. Scully, Avon’s current Executive Vice President and Chief Operating Officer, will be leaving the company Oct. 1, following his previously announced decision not to relocate to London.
“I know I speak for the entire Avon management team and the Board in expressing our sincere appreciation to both Jim and Fernando for their dedication and service to Avon,” said McCoy. “We are extremely grateful for their leadership and contributions to the company’s strategic vision and transformation initiatives, and wish them both all the best.”