S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

When Will Gary Rodkin Push Andrea Jung Out As CEO Of Avon?

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Gary Rodkin, the CEO of ConAgra Foods, is the only member of the Avon Products (NYSE: AVP) board who has the power to convince his fellow board members to force the resignation of long-time CEO Andrea Jung. The balance of the board’s members are retired executives or financiers. None of the retired executives left a large company. None of the financiers are from a first tier firm.

Rodkin does not have a lot of time. Avon has been nearly ruined under Jung. Its stock trades close to a multi-year low. Recent earnings and forecasts were so poor that analysts have begun to call for a change in management. Moody’s has put Avon debt under review because of weak earnings and an SEC investigation about the company’s communications with financial analysts.

Rodkin is by far the most powerful director on the Avon board. He has a chance to act accordingly. Otherwise, the current situation will only get worse for Avon’s shareholders.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Retirees Are Realizing a $1.5 Million Nest Egg at 60 Only Means $31,000 in Real Annual Spending
Drew Wood |

Retirees Are Realizing a $1.5 Million Nest Egg at 60 Only Means $31,000 in Real Annual Spending
71% of Americans With Financial Advisors Feel Secure. Only 10% Without One Do
David Beren |

71% of Americans With Financial Advisors Feel Secure. Only 10% Without One Do

Continue Reading

Douglas A. McIntyre |

Former Avon CEO and Scandal: All Ethics Start at the Top

The Wall Street Journal reports that federal prosecutors want to speak with former Avon Products (NYSE: AVP) CEO Andrea Jung.…
Douglas A. McIntyre |

How Did Andrea Jung Stay So Long as Avon CEO?

Andrea Jung has been chairman and CEO of Avon Products (NYSE: AVP) since November 1999. She has done an atrocious job…
Douglas A. McIntyre |

Avon Takes 24/7 Wall St. Advice–Sacks CEO

Avon Products (NYSE: AVP), recently named one of 24/7 Wall St.’s Worst Managed Companies, fired its CEO Andrea Jung. In a…
Douglas A. McIntyre |

Who Is at Fault at Avon?

Avon’s (NYSE: AVP) vice chairman, Charles Cramb, was fired as the federal government examines whether the company violated the Foreign Corrupt…
Who Is on Apple’s Board, and Why
Douglas A. McIntyre |

Who Is on Apple’s Board, and Why

Apple may not add another director for several years. It already has a group that serves it well as a…
Trey Thoelcke |

Avon Chair Andrea Jung to Step Down

Wikimedia CommonsAvon Products Inc. (NYSE: AVP) announced today that Andrea Jung will step down as executive chairman and member of…
Douglas A. McIntyre |

Apple’s Weak Board

courtesy of Apple Inc.For a company of its size and prominence in the global business and tech world, Apple Inc.…
Douglas A. McIntyre |

What’s Important in the Financial World (5/14/2012) Greek Elections, “The Avengers”

Coalition talks in Greece have broken down and are not likely to resume. This means new elections are almost inevitable.…
Douglas A. McIntyre |

Avon Shares Hit 2-Year Low, Pressure CEO McCoy to Leave

Avon faces greater and greater losses as a public company, and a continued sell-off of its shares, or a buyout…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618