Kimberly Ross has resigned as executive vice president and chief financial officer of Avon Products Inc. after three years with the direct-marketing beauty firm.
Her resignation is effective Oct. 2, at which time Robert Loughran, vice president and corporate controller of the company, will become acting cfo while the company searches for a new permanent cfo.
Ross joined Avon in 2011 in her current post after 10 years at Royal Ahold, the Netherlands-based operator of supermarkets and other retail stores. She was executive vice president and cfo of Royal Ahold at the time of her departure for Avon.
“Kimberly has been a strong leader for Avon over the past three years,” Sheri McCoy, Avon’s chief executive officer, said. “I appreciate her partnership as we’ve worked together on Avon’s turnaround journey.”
Ross’s tenure began just prior to the April 2012 arrival of McCoy as ceo of Avon. McCoy, a 30-year veteran of Johnson & Johnson who served as its vice chairman, succeeded Andrea Jung as ceo.
In late July, Avon reported that, in the three months ended June 30, its profits declined 40.4 percent, to $19 million, or 4 cents a diluted share, as revenues slid 12.8 percent, to $2.18 billion. McCoy said that, while revenues in North America remained challenging, Avon’s business “is making good progress on cost management and landed where we expected.”
Loughran joined Avon as assistant controller in 2004 and was promoted to vice president and controller in 2012.