WSJ : Avon Products CEO Sheri McCoy Expected To Step Down

(RTTNews) - Avon Products Inc. (AVP) Chief Executive Sheri McCoy is expected to step down, after her effort to turn around the beleaguered cosmetics seller faltered, the Wall Street Journal reported citing people familiar with the matter.

Ms. McCoy is near a decision to retire, said the Journal, who cautioned that terms of her departure are still being worked out and no final decisions have been made. Either way, Ms. McCoy, who has run Avon since 2012, is expected to stay on for several more months. It is not clear who might succeed her.

The move comes after Avon in early May posted a surprise loss. That same day, shareholder activists Barington Capital Group LP and NuOrion Partners AG, which together own more than 3% of the company's stock, said Avon's turnaround needs to go faster and it should find a new CEO.