Unilever Europe president Jan Zijderveld to become Avon Products CEO as Sheri McCoy retires

 
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Avon's stock market value has fallen almost 90 per cent since 2012 (Source: Getty)

Unilever's European president Jan Zijderveld has been appointed chief executive of direct selling beauty company Avon.

"I strongly believe in the opportunity and relevance of direct selling for today’s representatives and consumers," he said today.

"Avon is an iconic brand with an incredible global footprint as the world’s leading direct selling beauty company, operating in the attractive and growing beauty category.”


Jan Zijderveld joins from Unilever

He replaces Sheri McCoy, who served as CEO for almost six years but announced her departure last year amid pressure from an activist investor.

The company's sales have been depressed for years and its shares have lost almost 90 per cent of their value since McCoy took over in 2012.

Avon's performance has even made it the centre of takeover speculation, with some shareholders last month calling for it to sell itself.

Beauty giant Coty has previously bid $10.7bn for the company, but withdrew the offer.

Read more: Butter late than never: Unilever has finally sold its spreads business

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