By  on January 29, 2018

A group of Avon Products Inc. shareholders wants the company to consider selling itself — in whole, or in parts.

Shah Capital, Barington Capital Group LP and NuOrion Partners, which collectively own about 3.5 percent of Avon, have sent a letter to the company’s board of directors requesting they hire a financial adviser to explore strategic alternatives, including a sale. In a statement, the group said it was “extremely disappointed” in Avon’s stock price — which has declined more than 56 percent in the past year — and that the board has been slow to hire a new chief executive officer. The current ceo, Sheri McCoy, plans to step down at the end of March. It also said shareholders should not have to keep waiting for a turnaround “from a board that has overseen such tremendous destruction of shareholder value.”

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