Avon Products CEO Sheri McCoy To Step Down In 2018 - Quick Facts

(RTTNews) - Avon Products, Inc. (AVP) announced that Sheri McCoy will step down as CEO and as a director on March 31, 2018. Avon's Board has retained Heidrick & Struggles, a leading executive search firm with particular expertise in the consumer goods industry, to assist in identifying Ms. McCoy's successor.

For the second-quarter, Avon Products reported a adjusted loss per share from continuing operations of $0.03. Revenue decreased 3% to $1.4 billion; and were down 4% in constant dollars.

"Second-quarter performance fell below our expectations as we cycled a strong quarter last year. As previously guided, we expect the second half to yield a stronger performance based on our exciting product innovation plans and other initiatives to increase Representative activity," said Sheri McCoy, CEO.

Looking forward, Avon Products stated that based on second-quarter performance, the company now expects to be at the low end of the guidance ranges provided.