New Avon LLC has appointed Jack Stahl as chairman of the company’s board of managers, effective today.
He is succeeding Chan Galbato, chief executive officer of Cerberus Operations and Advisory Company LLC, who acted as interim chairman after the acquisition of Avon Products. Inc.’s North American business by Cerberus Capital Management. The businesses officially separated in March of this year. The new business is New Avon LLC. Mr. Galbato will continue to remain on the board of managers in an advisory position, and remains in his role as ceo of the Cerberus subsidiary that owns the majority of New Avon LLC.
New Avon LLC also announced today that its ceo Scott White will serve on the board of managers, effective immediately.
White was appointed ceo of New Avon LLC last month, and is tasked with transforming the North American business. Earlier this year, WWD reported that Avon Products Inc. posted its 16th straight quarter of sales declines in February, with a $333 million net loss for the fourth quarter, up from a $331 million loss from the prior-year period.
Stahl is the former president and chief operating officer of The Coca-Cola Company, and the former chief executive officer and president of Revlon. He currently serves on the boards of Delhaize Group, Advantage Solutions LLC and Catalent Inc., and previously served on the boards of Coty Inc. and Saks Inc., and Dr. Pepper-Snapple Group.
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“My first six weeks at New Avon have been incredibly inspiring and productive, and I’m thrilled to expand my role with this board seat,” said White in a statement. “With the addition of Jack’s counsel and experience, I am even more confident in our ability to revitalize our business for the benefit of our representatives, associates and consumers across North America.”