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Avon’s Board Names New Non-Executive Chairman

Fred Hassan resigns; Doug Conant takes on the role.

NEW YORK — Fred Hassan, the non-executive chairman of the board at Avon Products Inc., has resigned to focus on his other commitments.

Doug Conant, who currently serves on Avon’s board, has been elected to the position of nonexecutive chairman.

Both changes to Avon’s board are effective immediately.

Hassan is also nonexecutive chairman of Bausch + Lomb, and a managing director at private equity firm Warburg Pincus.

Hassan said, “My other professional commitments have intensified, requiring more focus. So I have decided it is in the best interest of Avon for one of my board colleagues to take on the chairmanship.”

Sheri McCoy, chief executive officer, said, “Fred has been a good partner to me as I transitioned into my role as ceo of Avon, and I thank him for his support.”

Conant, who previously held executive positions at Campbell Soup Co. and Nabisco Foods Co., said, “I look forward to taking on the role of chairman and, together with Sheri and my board colleagues, continuing our work of improving the company’s performance.”

Also joining the Avon board is Kimberly Ross, the firm’s chief financial officer, effective May 2. Avon said the action was taken in order to maintain the minimum number of directors required by Avon’s by-laws. The intent is for Ross to step down once a new independent director has been appointed. That search is underway, Avon said.