Katie Marsal
Jung has been chief executive of Avon since November of 2009, but criticism toward her has grown lately after a series of missteps at the company. On Thursday, it was revealed that Avon is currently the subject of two investigations from the U.S. Securities and Exchange Commission.
One of those investigations seeks to find out whether the company has bribed overseas officials, stemming from allegations out of China and Latin America. A second investigation includes a subpoena from the SEC seeking details on conversations held between Avon officials and analysts at Citigroup regarding company performance, financial health, and Avon's own investigations into bribery allegations.
In addition, the company also scrapped its sales targets during a quarterly conference call on Thursday, the latest in what some see as "a pattern of operational missteps," according to The Wall Street Journal. Directors at Avon continue to support Jung, but Avon shares dropped 18 percent on Thursday alone.
The report said that Jung is working on a fix for the company's current problems, as well as a long-term plan expected to be introduced by the first quarter. Jung declined to provide comment when speaking to analysts on Thursday, but added: "The buck stops with me."
Outside of Avon, Jung is the only woman on Apple's board of directors, where she has held a seat since January of 2008. Jung is the co-lead director of the Apple Board of Directors, a position she took in 2010, and she is also the head of Apple's compensation committee.
Apple's board of directors has entered what some view as an uncertain era following the passing of Steve Jobs. Outsiders now wonder if Apple will choose an independent chairman — someone from outside of the company — to head its board of directors.
In addition to Jung, the board includes former U.S. vice president Al Gore, Genentech Chairman Arthur Levinson, J. Crew CEO Millard Drexler, Intuit Chairman Bill Campbell, former CEO of Northrop Grumman Corporation Ronald D. Sugar, and Apple CEO Tim Cook. At just seven people, it's a smaller-than-average board.
William Gallagher
Malcolm Owen
Charles Martin
20 Comments
Well if they release her from the board for immoral activities, Al Gore should go too. Surely politicians aren't squeaky clean. I hope Avon doesn't go bankrupt, I don't wear makeup (LOL) but that company has been around forever, since I was a kid.
Is that the face you want at the helm of a cosmetics company!
Maybe they should have the tagline "cosmetics so good that even this guy can look suspiciously like a woman" lol.
Well if they release her from the board for immoral activities, Al Gore should go too. Surely politicians aren't squeaky clean. I hope Avon doesn't go bankrupt, I don't wear makeup (LOL) but that company has been around forever, since I was a kid.
Is that the face you want at the helm of a cosmetics company!
Maybe they should have the tagline "cosmetics so good that even this guy can look suspiciously like a woman" lol.
Wow. The first two comments and both are unsupported personal attacks for no reason whatsoever.
I don't know which is lamer, the first one that accuses Al Gore of "immoral" deeds without any evidence or even details, or the one that simply goes personal and attacks the way a complete stranger looks.
Real classy.
Wow. The first two comments and both are unsupported personal attacks for no reason whatsoever.
I don't know which is lamer, the first one that accuses Al Gore of "immoral" deeds without any evidence or even details, or the one that simply goes personal and attacks the way a complete stranger looks.
Real classy.
'On the Internet no one can hear people being tools.'
Why is is Bill Campbell from Intuit on Apple's board yet Intuit has very little commitment to the Mac with their software.
CAN ANYONE ANSWER THIS FOR ME?