ABSTRACT
This domestic and foreign scenario confounded two CEOs at Avon Products, the 115-year-old direct sales company. CEO James Preston stepped down in 1997, giving way to Charles Perrin, CEO of Duracell, brought in to be a miracle worker. Perrin lasted 18 months. After disappointing earnings in the fourth quarter of 1999 sent Avon’s share price to a new $23 low, Avon announced “early retirement” for Mr. Perrin at age 53, appointing to the CEO position a female marketing whiz, Andrea Jung, age 42.
