Key Developments: Avon Products Inc (AVP)
23.45USD
18 Jun 2013
$0.06 (+0.26%)
$23.39
$23.44
$23.46
$23.15
2,139,900
3,772,709
$24.53
$13.70
Latest Key Developments (Source: Significant Developments)
Avon Products Inc Declares Regular Quarterly Dividend
Avon Products Inc announced that it declared a regular quarterly dividend on its common stock of $.06 per share, payable June 3, 2013, to shareholders of record on May 14, 2013. Full Article
Avon Products Inc Announces Chairman Change-Form 8-K
Avon Products Inc reported in its Form 8-K on April 26, 2013, Avon Products, Inc. (Company) announced that Fred Hassan, Chairman of the Board of Directors (Board), resigned from the Board effective April 26, 2013. The Board also appointed Douglas R. Conant as Chairman of the Board at the April 25, 2013 special meeting, effective April 26, 2013. Full Article
Avon Products Inc Announces Reduction Of Headcount And Closure Of Underperforming Markets; Sees Q1 2013 Charge
Avon Products Inc announced that its latest actions include a global headcount reduction of more than 400 associates across all regions and functions, and the restructuring or closure of certain smaller, underperforming markets, primarily in Europe, Middle East & Africa, including the exit of the Republic of Ireland market. The Company expects these actions to be largely completed before the end of 2013. The Company also announced that for first quarter of 2013, it expects charges related to these actions to be in the range of $35 to $40 million before taxes and that approximately $20 million of that total will be recorded. Full Article
Avon Products Inc Declares Regular Quarterly Dividend
Avon Products Inc announced that it has declared a regular quarterly dividend on its common stock of $.06 per share, payable March 1, 2013, to shareholders of record on February 26, 2013. Full Article
Avon Products Inc Will Cut 1,500 Jobs-Reuters
Reuters reported that Avon Products Inc said it will cut about 1,500 jobs globally and will exit the South Korea and Vietnam markets as part of a turnaround plan announced in November, 2012. Full Article
Avon Products Inc Declares Quarterly Dividend
Avon Products Inc announced that it has declared a regular quarterly dividend on its common stock of $.06 per share, down from $.23 per share in the previous quarter. The dividend is payable December 3, 2012, to shareholders of record on November 15, 2012. Full Article
US FDA Warns Avon Products Inc To Smooth Out Claims On Skin Care Products-Reuters
Reuters reported that the U.S. Food and Drug Administration warned beauty products company Avon Products Inc to stop advertising its Anew range of skin care products using language that makes them sound like drugs. The FDA reviewed the Company's website in August, and objected to claims made about the products Anew Clinical Advanced Wrinkle Corrector, Anew Reversalist Night Renewal Cream, Anew Reversalist Renewal Serum, Anew Clinical Thermafirm Face Lifting Cream, and Solutions Liquid Bra Toning Gel. The regulator warned Avon Products Inc in a letter dated October 5 that the claims on the Company's website implied those products were intended to affect the structure or function of the human body, which would classify them as drugs. Full Article
Avon Products Inc's Executive Chairman Andrea Jung To Step Down From Board
Avon Products Inc announced Andrea Jung has informed the Board of Directors that she will step down as Executive Chairman and Board member, effective December 31, 2012 after transition to new leadership under CEO Sheri McCoy. Ms. Jung will continue as a senior advisor to the Board beginning on January 1, 2013. Fred Hassan, currently lead independent director, will succeed Ms. Jung next year and assume the position of non-executive Chairman on January 1. Mr. Hassan is a Managing Director and partner at Warburg Pincus and the former Chairman and Chief Executive Officer of Schering-Plough Corp. Full Article
US SEC Closes Probe Into Avon Products Inc's Disclosures To Analysts-Reuters
Reuters reported that U.S. securities regulators do not plan take any action stemming from an investigation into whether Avon Products Inc executives improperly shared information with analysts, Avon said on September 13, 2012. The staff of the Securities and Exchange Commission's enforcement division told the Company it doesn't intend to recommend any enforcement action against the Company, Avon said in a regulatory filing. The disclosure follows a year-long investigation that led to the firing of Avon's former vice chairman, Chuck Cramb. The SEC had been examining whether Cramb shared material information with a Citigroup analyst when he spoke to her about a separate bribery probe into the cosmetics company, and told her any misconduct unearthed by that inquiry appeared to be limited to China. Such information could violate Regulation FD, which bars companies from tipping off analysts and investors about material information. In January, Avon said Cramb was leaving the company in connection with the investigation. Full Article
Avon Products Inc In Talks To Settle Bribery Probe-Reuters
Reuters reported that Avon Products Inc said it is in talks to settle a U.S. bribery probe into overseas operations, a step analysts said could help the troubled beauty company move past a costly distraction and focus on fixing its business. 'While these discussions will take time, it is progress,' new Chief Executive Sheri McCoy said during a conference call with analysts. The Company said in a regulatory filing it was in talks with the U.S. Securities and Exchange Commission and Department of Justice to settle the bribery probes. Full Article
UPDATE 2-Coty fails to charm investors in market debut
June 13 - Shares of perfume and beauty products seller Coty Inc fell more than 3 percent in their market debut on Thursday, taking the gloss off the third-largest U.S. IPO this year.
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