Avon Products Splitting chairman and CEO roles

摘要

Shares of Avon Products surged 11 percent on Dec. 14—the most in more than three years—after the company announced that Andrea Jung will give up her CEO title next year. Jung will remain chairwoman once a new CEO arrives. The world's biggest door-to-door cosmetics seller has experienced sluggish sales recently and is the subject of Securities and Exchange Commission inquiries. The agency is investigating whether Avon executives engaged in bribery abroad, as well as allegations of improper communications with analysts.