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John Owen Appointed Senior Vice President, Europe, Middle East & Africa
Written by | Published
2004-02-02 15:14:05
NEW YORK, Jan. 27 /PRNewswire-FirstCall/ -- Avon Products, Inc. (NYSE: AVP) today announced two senior management assignments that will help increase the integration of the company's international business operations.
Assignments to Increase Integration of Avon's International Operations
Avon said that Robert Toth has been promoted to the new position of executive vice president, international, effective February 1. He will continue reporting to Susan J. Kropf, Avon's president and chief operating officer, and will return to the U.S. to work at the company's headquarters in New York, following eleven years in Europe.
The company also said that it has named John Owen as senior vice president, Europe, Middle East and Africa, reporting to Mr. Toth.
In his new role, Mr. Toth, age 51, will assume responsibility for the company's Latin America region, in addition to his current responsibilities for Avon's markets in Europe, Asia, the Middle East and Africa.
"Bob is one of Avon's most capable operating executives, and has an exceptionally strong understanding of our company's international business operations," Ms. Kropf said. "Under his leadership, sales in our overall European business have grown at a compounded annual rate of more than 20% since 2000, and our markets in Central and Eastern Europe are on track to have sales of $1 billion in 2005.
"In addition, Bob's considerable experience in Business Transformation will further speed the implementation of initiatives like market clustering and supply chain regionalization, which are so important to Avon's long-term growth," Ms. Kropf added.
Mr. Toth has served as executive vice president, Asia Pacific, Europe, Middle East since 2002. From 1999 to 2002, he was senior vice president, Europe, Middle East and Africa.
A 25-year Avon veteran, Mr. Toth joined the company in the U.S. as a supervisor in customer service, and advanced through increasingly responsible positions in the company's sales organization. He also headed Avon's markets in Central and Eastern Europe from 1997 to 1999, and was general manager in Poland from 1993 to 1997.
Mr. Owen, age 45, joined Avon in 1980 and has risen through various positions in finance and operations. Since 2002, he has been senior vice president, business transformation, and has led the successful development of Avon's "next-generation" supply chain strategy. From 2000 to 2002, he was group vice president, global finance.
Avon is the world's leading direct seller of beauty and related products, with $6.2 billion in annual revenues. Avon markets to women in 143 countries through 3.9 million independent sales Representatives. Avon product lines include such recognizable brand names as Avon Color, Anew, Skin-So-Soft, Advance Techniques Hair Care, Mark, beComing and Avon Wellness. Avon also markets an extensive line of jewelry and apparel. More information about Avon and its products can be found on the company's web site www.avon.com.
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
Statements in this release, which are not historical facts or information, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's reasonable current assumptions and expectations. Such forward- looking statements involve risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievement of the Company to be materially different from any future results expressed or implied by such forward-looking statements, and there can be no assurance that actual results will not differ materially from management's expectations. Such factors include, among others, the following: general economic and business conditions in the Company's markets, including social, economic and political uncertainties in Latin America and Asia; the Company's ability to implement its business strategies and its Business Transformation initiatives, including the integration of similar activities across markets to achieve efficiencies; the Company's ability to achieve anticipated cost savings and its profitability and growth targets; the impact of substantial currency fluctuations in the Company's principal foreign markets and the success of the Company's foreign currency hedging and risk management strategies; the impact of possible pension funding obligations and increased pension expense on the Company's cash flow and results of operations; the effect of legal, regulatory and tax proceedings, as well as restrictions imposed on the Company, its operations or its Representatives by foreign governments; the Company's ability to successfully identify new business opportunities; the Company's access to financing; and the Company's ability to attract and retain key executives. Additional information identifying such factors is contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2002, filed with the SEC. The Company undertakes no obligation to update any such forward-looking statements.
CONTACT:
Media - Victor Beaudet
212-282-5344
Investors - Renee Johansen, or Rob Foresti
212-282-5320
All for Avon Products, Inc.
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