Sheri McCoy at the 2013 Fortune Global Forum.
IMG: Flickr via Fortune Live Media
The “Avon Lady” is iconic. She’s the everyday woman, empowered and excited about her products. She is motivated. She’s an entrepreneur, in control of her own destiny. She’s the kind heart who took in Edward Scissorhands. She’s been around for over 126 years.
But lately, the Avon Lady has been struggling. The company saw an 8% decline in revenue in 2012 and survived a buyout bid from fragrance company Coty. Shareholders stood behind Avon, saying they believed it was worth far more than what Coty had offered. They believed that, perhaps with new leadership and vision, Avon could be restored to its former glory.
They brought in Johnson & Johnson veteran Sheri McCoy to do the job. As the new CEO of Avon, McCoy has vowed to revive Avon. And so far, things seem to be going well. McCoy’s focus is in cutting unnecessary programs, strengthening the core business, and moving focus from the inside to the outside—to the sales reps who are actually selling the products.
She’s had to do a lot of learning on the job but is determined to succeed. Be sure to read Sheri McCoy’s full profile to find out more about her career and what brought her to Avon in the first place.
