By  on April 3, 2013

Avon Products Inc. had an expensive transition in power last year as it brought in Sheri McCoy as chief executive officer to succeed Andrea Jung.

Beginning her tenure on April 23 after 30 years with Johnson & Johnson, McCoy earned a total of $12.9 million, including a prorated $832,000 of her annual salary of $1.2 million, and a $1.9 million sign-on bonus to take the job, as stipulated in her offer letter from Avon.

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