Susan Kropf is due to return to Avon Products Inc., this time as a board member.
Kropf has been nominated to the Avon board, where she previously was president and chief operating officer from 2001 to 2006. The company’s shareholders meeting is scheduled for May 6.
On Monday, Avon told shareholders that its investor day will now be held in the fall, rather than next month as its newly installed executive vice president, chief financial officer Jim Scully needs additional time to conduct a strategic review of the business. ConsumerEdge Research analyst Javier Escalante said Kropf’s “intellectual caliber” will be a great asset to that process.
In a note released today, Escalante referred to Kropf as “perhaps Avon’s most highly regarded ex-executive.”
He wrote, “We don’t know of any other direct selling executive aside from Mr. [Rick] Goings, currently Tupperware’s ceo, who worked 20 years at Avon — with more experience and credibility than Susan.” He continued, “Clearly, Avon’s strategic options and financial strength have weakened after the failure of fixing Avon through execution alone. But we view the appointment of Ms. Kropf as an investment positive.”
During her 36-year career at Avon, she also held posts as executive vice president and chief operating officer, North America and global business operations, and executive vice president and president, North America of Avon. She previously served on Avon’s board from 1998 to 2006. Kropf is a director of Coach Inc., MeadWestvaco Corp., The Kroger Co. and The Sherwin-Williams Co.