Avon Products, Inc. (NYSE:AVP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Counsel Chief Ethics Compliance Officer of Avon Products, Inc.
(the Company) notified the Companys Board of Directors that he
has decided to retire from Avon. Avon plans to hire a General
Counsel, who will be based in Avons global headquarters in the
United Kingdom. Mr. Benjamin intends to remain in his current
position at Avon until a successor is named later this year.
and Mr. Benjamin entered into a Transition Letter Agreement and
General Release of Claims (the Agreement). to the Agreement, Mr.
Benjamins last day of active employment with Avon is currently
anticipated to be on or after August 1, 2017 (the actual date,
the Separation Date). Under the Agreement, Mr. Benjamin has
agreed that after the Separation Date he will advise and consult
Avon on matters within or related to his expertise and knowledge
in connection with the business of Avon. In exchange, Mr.
Benjamin will receive one year of current base pay and continued
participation in certain welfare and other benefits programs
during the one year period. Mr. Benjamin is subject to
traditional confidentiality and non-solicitation covenants. The
confidentiality covenant has an indefinite term and the
non-solicitation covenant applies during the one year period.
Benjamins retirement is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
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Exhibit 99.1
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Press Release, dated March 20, 2017
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About Avon Products, Inc. (NYSE:AVP)
Avon Products, Inc. is a manufacturer and marketer of beauty and related products. The Company’s product categories are Beauty, and Fashion and Home. Beauty consists of skincare (which includes personal care), fragrance and color (cosmetics). Fashion and Home consists of fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children’s products and nutritional products. The Company’s segments are based on geographic operations and include commercial business units in Latin America; Europe, Middle East and Africa, and Asia Pacific. The Company’s business is conducted primarily in one channel, direct selling. The Company’s products include Anew Clinical Overnight Hydration Mask, Anew Power Serum, Ultra Color Indulgence Lip Color, SuperExtend Winged Out Mascara, Big & False Lash Volume Mascara, Outspoken Party! by Fergie Fragrance and Avon Attraction for Him and for Her Fragrances. Avon Products, Inc. (NYSE:AVP) Recent Trading Information
Avon Products, Inc. (NYSE:AVP) closed its last trading session 00.00 at 4.32 with 2,371,978 shares trading hands.