Andrea Jung and the Turnaround of Avon Products
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Case Details:
Case Code : LDEN035
Case Length : 15 Pages
Period : 1999-2005
Pub Date : 2005
Teaching Note : Available
Organization : Avon Products Inc.
Industry : Cosmetics
Countries : USA
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"I'm proud of my heritage and certainly my gender. I think
it's a privilege being a minority woman leading a Fortune 250 company."
- Andrea Jung, Chairperson and CEO,
Avon Products Inc. in 1999.1
"She's a young woman with a very big job. She has an
opportunity to really demonstrate her abilities, and if she does well, others
will undoubtedly reach for her."
- Herbert Mines, executive headhunter for Herbert Mines
Associates in 2000.2
Andrea Jung in Fortune's List
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In October 2004, Andrea Jung (Jung), the chairperson and CEO
of Avon Products Inc. (Avon), was listed at the third position on Fortune
magazine's annual list of the '50 Most Powerful Women in Business'. She was
ranked behind eBay's Meg Whitman and Hewlett Packard's Carly Fiorina (a longtime
top position holder now ranked second).3
It was the fourth time that Jung had featured in this list, and analysts said
the honor was well deserved. Jung was credited with transforming Avon, which was
mockingly called the 'Graying Goliath', into a modern company that catered to
the beauty needs of women across age groups and social strata. Under her
leadership, Avon's image in the market changed from "frumpy" to "fashionable".4 |
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Jung was appointed the CEO of Avon in 1999, after the departure of her
predecessor Charles Perrin (Perrin), who had earlier been the CEO of
Duracell. She was the first woman to become the CEO of the company, which
was more than a century old. At the time of her appointment, several people,
both inside and outside the company, were of the opinion that Jung was too
young and inexperienced to lead a global company like Avon. However, Jung's
dynamic leadership and comprehensive turnaround plan soon silenced their
doubts. By the early 2000s, it was universally acknowledged that Jung had
been the ideal person to lead Avon out of its difficulties. (Refer Exhibit I
for a background note on Avon).
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Background
Jung, the older child of immigrants to Canada (her mother was from Shanghai
and her father from Hong Kong), was born in 1958 in Toronto, Canada. Both
her parents were ambitious5 and they
inculcated the same ambition and drive in their children. As a child, Jung
took piano lessons and attended Mandarin classes. She was a dedicated
student and was also involved in class politics (she was class secretary at
her high school).
Jung believed that the values inculcated in her as a child played an
important role in the approach she took to achieving tasks later in life... |
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