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Breakingviews: Avon’s uphill struggle

Wednesday, August 01, 2012 - 02:47

Aug 1 - Richard Beales and Agnes Crane discuss why new CEO Sheri McCoy has a challenge on her hands and why ex-CEO Jung has outstayed her welcome as executive chairman.

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Avon Products reported a steep decline in profit for the second quarter this morning. They go to UC about three months ago Sheri McCoy but it's looking like an increasingly uphill struggle Agnes what's going on. Yeah mangan haven been troubled firm firm quite awhile -- -- can party all kind of sends back these missteps these matinee serial reorganization Pepperdine under Andrew Young who was right former CEO. -- chairman of the -- Now we have a couple of things right says she. The board -- you see evidence really kicked around and really take Andrea you -- guys and kicked into the next door office's executive chip that -- that was a bit ought to. Yes I -- I really feel a community. You know basically she had -- -- six years to kind of turn -- Avon. Operations around and it's just think it's really kind of spam and and again listening to Sheri McCoy and the conference call primitive indictment of the previous Cleveland talking about. Hear the mistakes that have gotten us here it's taken a long time to get to this point -- paid to get it back to basics with selling make up the right mix it up to the right people when it's all very. Let us and he's still -- thing we noticed in today's report -- home sales reps are leaving them one of the reasons people gave for keeping -- you around was. On the -- admire and look up to an example -- stick around if she sticks around well that and anyway say. Yes I was that's kind of what the last thing I thank you why are they keeping an area around I mean given the performance and also need to bring in new CEO. Who is going to shake things up kind of you critique what has been done before it really -- a lot cleaner. If you don't have the former you know TO there kind of -- stick to your fingers. The live there's also this inquiry getting it right I mean it looks like I've been Avon as saying that. You know the discussions -- settlements is these anti bribery charges brought against Avon or perceived righteousness SEC and department justice it's pretty serious stuff. Now they're talking about settlements I think that's helped the she hit the share price of that but again right so the results of that's -- good to get -- even data system a little guy. CME -- frankly are and you know I think channels as well work. Kind of prepared it's going to be another bad router and their their warning that in the second half it's going to be much better as well as well. You know again I think it's it's one of these things we've got to look at if you have a new CEO really you know wants to turn the company around then they really need to take a look at why is Andrew Young still and turn. Right then that's a joke for the boredom in this so McCoy has -- kind of the -- that inaudible mr. -- do deal with currency -- felt that way. We like -- I don't have been so bad at NASA tries and but now they really need may be to focus on the Andrea again say okay we need to. Exactly -- Yep okay we'll leave that we'll be keeping on Avon Products and we'll have more from breaking views torrent.

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Breakingviews: Avon’s uphill struggle

Wednesday, August 01, 2012 - 02:47