Apple board member Andrea Jung facing scrutiny at Avon
Andrea Jung, who has served on Apple's board of directors since 2008, is under fire for performance at her day job, as CEO of cosmetics company Avon.
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.
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.
Comments
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.'
CAN ANYONE ANSWER THIS FOR ME?
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?
Because Bill used to be an executive at Apple until Steve left. He had been a friend of Steve's ever since. Tim Cook calls him "The Coach".
Perhaps it was an attempt to cover three bases at once -- woman, Asian, consumer products -- and I am sure she was amazing at some point in her early career, but it was not obvious that there was anything particularly remarkable about the trajectory of her career around the time that Steve brought her on.
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.
Meesa think Jarjar Binks would like.
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.
you mean she was banging steve?
Well if they release her from the board for immoral activities, Al Gore should go too.
The world is so full of crooked politicians that there's hardly room to breathe and you're criticizing Al Gore, of all people?! That's pretty pathetic.
And politicians should not be on Apple's board or on any board.
And politicians should not be on Apple's board or on any board.
Watch out, someone will come to protect Gore. Again. Would like to know if he turns off the lights in the board room.
Anyone else read that last sentence in the voice of Yogi Bear?
That's right, Booboo boy!
Must be nice to have that kind of time on your hands.
Why would you want to "independent" outsider to be your chairman? Why not promote from within and reward long time hard working dedicated employees with those positions? Or maybe Apple needs another Sculley to run in to the brink of bankruptcy so they can have another major rebound - but who would lead that effort? I'd do it - where do I send my resume?
Andrea Jung facing scrutiny
"She" is really a man.
Why is that woman on Apple's board? What does Avon have to do with hi-tech?
And politicians should not be on Apple's board or on any board.
1- Opinion of random stranger on board's composition
2- Opinion of Steve Jobs.
I'll go with Steve's.
(anyway, if I may add, and I will anyway, having the tunnel vision of tech guys at the helm of Apple would tell you that phones are a bad market to enter, Apple cannot make a tv, tablets are a horrible idea and go PC! Diversity at the helm, imho, is a good thing. So, being another random stranger, my opinion cancels yours out