Avon taps former J&J executive to fill CEO role
NEW YORK — Avon, which recently rejected a bid from Coty, has ended its previously announced search for a new CEO by hiring former Johnson & Johnson executive Sheri McCoy to take the helm.
McCoy will assume her role as Avon CEO as of April 23. The appointment brings to a close a four-month search to replace CEO Andrea Jung. Jung will continue as chairman of the board.
“We believe McCoy was one of the key prior candidates to become CEO at J&J (Alex Gorsky was recently appointed J&J’s CEO in February), and based on positive investor feedback and a strong background is a strong addition to Avon’s management team. McCoy has both global (including Latin America) and turnaround experience at J&J, important attributes at Avon, although she does not have direct selling experience,” Morgan Stanley analyst Dara Mohsenian wrote in a research note.
McCoy assumes leadership of Avon following a 30-year career at J&J, where she rose to become vice chairman of the company’s pharmaceutical, consumer, corporate office of science & technology, and information technology divisions.
As previously reported, Coty submitted a nonbinding proposal to acquire Avon in a deal valued at about $10 billion; however, Avon has rejected the unsolicited bid. Coty stated that it has no intention of pursuing a hostile takeover but is making its proposal public in order to inform Avon’s shareholders of what it believes is “significant value” in a transaction.
Avon stated that Coty’s offer did not reflect the fundamental value of the company and its global beauty care franchise, and also stressed its commitment to hiring a new CEO. Avon stated that hiring a new CEO is a “greater opportunity to improve shareholder value in excess of Coty’s conditional indication of interest.”
Latest Carmex art project: ‘365 Days of Lip Service’
MILWAUKEE — Carma Labs earlier this year teamed with mixed media artist Lisa Pavelka to launch 365 Days of Lip Service, a collection of artwork created on the lids of 366 Carmex lip balm jars.
“We were thrilled to learn about the project and Lisa’s long-held preference for using the Carmex jar in her artistic creations,” stated Paul Woelbing, president of Carma Labs. “Carmex fans know that, in addition to being a great lip balm, we are dedicated to fun and inspiration. This is a great way to help us celebrate Carmex’s 75th anniversary.”
Pavelka will create an original Carmex lid for each day in 2012 (366 in all since 2012 is a leap year). The artist unveils the newest creation with daily posts at Lisapavelka.typepad.com. Each entry includes images of the lid, a brief explanation of the inspiration behind the design, along with information on the materials and techniques used.
The Carmex lid collection is Pavelka’s most ambitious project to date. The first of the 366 lids was unveiled on Jan. 1 and will continue through Dec. 31. The idea behind the collection began more than 10 years ago when Pavelka began making creative polymer clay lids for gifts. She later went on to feature the concept in one of her books.
“Carmex has long been the subject of my embellishing and gifting,” Pavelka said. “Friends and family who receive the embellished Carmex jars use the empty containers for pill boxes, mint keepers or treasure vessels. It was easy to decide to use the iconic product for this project because I have been using the jar lids as my canvas for years.”
Kate Walsh teams with Zyrtec on beauty tips for allergy season
FORT WASHINGTON, Pa. — McNeil Consumer Healthcare, the maker of Zyrtec, on Wednesday announced that actress Kate Walsh and beauty expert Rebekah George will address "allergy face" — the beauty challenges that can come along with typical allergy symptoms — during a live webcast April 10 at 8 p.m. EST on Ustream, a live interactive broadcast platform.
"I love California in the springtime, but unfortunately for me that means allergies," said Kate Walsh, who performs on ABC’s "Private Practice." "I teamed up with the maker of Zyrtec to share my story and personal beauty tips, so that allergy sufferers like me can look their best."
The webcast will be available at Ustream.tv/zyrtec.
According to McNeil, an estimated 40 million Americans suffer from indoor and outdoor allergies.
Beauty expert Rebekah George will provide beauty tips and tricks, and answer questions from Kate Walsh and live viewers. Some of George’s tips include:
Pretty Not Puffy Face: Layer on a copper bronzer and pink blush combination to reduce redness and help contour a puffy face;
Rid the Red Nose: Deal with a red, dry nose by applying a thick layer of lotion at night, followed by a lightweight oil in the morning. Allow it to dry for a few minutes, and then apply a yellow-based concealer or a copper bronzer to cancel out the redness;
Bright Eyes: Don’t try to brighten eyes with tons of eye shadow. Instead, take a gold shimmery shadow, or a white or cream eyeliner pencil and just apply a smear underneath your brows’ arch to help brighten and open up your eyes; and
Sleeping Beauty: Sleep with your head elevated with an extra pillow or two. The elevation helps drain fluids from your face so skin and eyes are less puffy in the morning.