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Jung To Step Down as CEO

Will move to executive chairman after a replacement is named.

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By: TOM BRANNA

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Wracked by poor results in emerging markets and corporate governance issues, Andrea Jung will step down as chief executive officer of Avon Products Inc. next year and transition into the role of executive chairman once a successor is found. The move separates the offices of chairman and CEO, both of which Jung currently hold. “I believe the time is right to separate the Chairman and CEO roles and I look forward to continuing to serve Avon as Chairman as we address the company&#821...

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