Avon Designates 2012 'Transitional Year,' Delays Guidance

摘要

With plans to reduce headcount, cut costs and fix its Brazilian business - all while searching for a new CEO - Avon Products Inc. has designated 2012 a "transitional" year and declined to give forward-looking guidance during a Feb. 14 earnings call. Current Avon chairman and CEO Andrea Jung told analysts the firm is delaying a review of long-term financial and operating objectives for 2013 and beyond until a replacement for her CEO role comes on board.