The following is an excerpt from Dimitra Defotis | December 14, 2011 | Online.Barrons.com |
The beauty company’s shares jumped on news that the search is on for a new CEO. Expect more than gloss.
Makeup can’t erase problems but it can brighten a face, and that’s what a new CEO is likely to do for Avon’s stock.
On Wednesday, shares of Avon Products (ticker: AVP) rose more than 7%, to $17.37, after longtime CEO Andrea Jung agreed to step into a newly separated chairman role at the global beauty company, which is searching for a new chief executive.
And the stock should pop again in the months to come when the new leader is named.
The managerial initiative is needed after …
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