Avon Names New CEO
PARIS — Avon Products Inc. appointed Kristof Neirynck as its new chief executive officer.
Avon’s parent company, São Paulo-based Natura & Co., said in a notice to the market Thursday that Angela Cretu is stepping down from the CEO role on Jan. 1.
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“Under Angela’s leadership, Avon initiated a successful turnaround strategy, streamlining its operating model and radically simplifying its portfolio,” Natura said in the filing. “As CEO, Angela reignited Avon’s purpose-driven campaigning, empowering women to embrace their power and improve their lives with accessible world-class beauty and flexible earning and learning opportunities, whilst supporting causes like breast cancer and gender-based violence.”
Cretu has been with the company for 25 years, and will serve as a senior adviser to API.
Neirynck is currently API’s chief marketing officer and managing director for Western Europe.
“Kristof excels in business turnarounds and driving step-change growth and as chief marketing officer for Avon for the past two years, he drove a complete brand relaunch and is focused on gross margin improvement,” Natura said.
Prior to Avon, Neirynck held the job of chief marketing officer for global brands at Walgreens Boots Alliance, overseeing a portfolio of more than 20 owned brands across beauty and consumer health care categories. Before that, the executive worked at Procter & Gamble, in leadership roles in various divisions.
In other executive news, Alessandro Carlucci is rejoining Natura as a senior adviser to Avon to help its ongoing turnaround and drive growth. He had been CEO of Natura Cosméticos SA between 2005 and 2014. Carlucci has served as chairman of SR and Arezzo & Co. as well as president of the World Federation of Direct Sales Associations, from 2012 to 2014.
The beleaguered Natura has been selling off assets. Most recently, in mid-November, the company announced it had spun off The Body Shop to Aurelius Investment in a deal valuing the beauty chain at 207 million pounds.
In early April, Natura sold the Australian luxury personal care brand Aesop to L’Oréal for an enterprise value of $2.53 billion.
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