Avon said to be considering HSN chief Mindy Grossman for CEO, WSJ reports; Avon also planning layoffs, other moves to reduce costs after posting a Q4 loss this week
February 15, 2012
– Avon Products Inc. is considering HSN Inc. CEO Mindy Grossman to be its new CEO, replacing longtime CEO Andrew Jung, the Wall Street Journal reported Feb. 15, citing a person familiar with the matter.
After reporting a Q4 loss this week, Avon said it plans to reduce costs through a layoffs and other moves, but the layoffs won't be as extensive as they were in previous restructurings, the company said.
A more extensive overhaul will take place once a new CEO is found, Avon said, the Wall Street Journal reported.
The primary source of this article is the Wall Street Journal, New York, New York, on Feb. 15, 2012.