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.”

To continue reading this article...

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus