Andrea Jung
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Andrea Jung
| Andrea Jung | |
|---|---|
 Andrea Jung (right) with Reese Witherspoon, Michelle Obama, and Hillary Clinton at the International Women of Courage Awards, March 10, 2010 |
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| Born | Toronto, Ontario Canada |
| Nationality | Canadian-American |
| Alma mater | Princeton University (B.A.) |
| Occupation | Executive Chairman, Avon Products |
| Salary | $6,997,015 (2009) |
| Spouse | Michael Gould (divorced) |
Andrea Jung (鍾彬嫻, pinyin: Zhōng Bīnxián) (born 1958) is a Canadian-American businessperson. She is the executive chairman and former CEO of Avon Products Inc..[1]
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Early life
Her mother is a Shanghai-born amateur pianist. Jung's father is a Hong Kong-born retired architect, formerly a partner at TRO Jung Brannen, who also taught at the Massachusetts Institute of Technology. Andrea Jung was raised in Wellesley, Massachusetts. Jung is a magna cum laude graduate of Princeton University and is fluent in Mandarin.[2]
Career
Jung was executive vice president of Neiman Marcus, where she handled issues regarding accessories, intimate women's apparel, cosmetics and children's wear. Before that, she was senior vice president, general merchandising manager, for I. Magnin. http://www.avoncompany.com/aboutavon/boardofdirectors/index.html&title=Board%20of%20Directors Jung joined Avon Products, Inc. in 1994 as the company's president in its product marketing group. She became president of global marketing in 1996 and executive vice president/president of global marketing and new business in 1997. Her responsibilities at that time centered primarily around market research, joint ventures and strategic planning. She then became president and chief operating officer, with responsibility for all business units of Avon worldwide. She has been on the company's board of directors since 1998. In November 1999, Jung was promoted to chairman of the board and chief executive officer.[3]
Jung has been on the board of directors of General Electric since 1998.[4] She joined Apple's board of directors on January 7, 2008.[5]
On December 13, 2011, it was announced that Avon had initiated a search for a new chief executive. She will have a role in choosing her replacement, and she will also continue as chairman of the board for the next two years. A multitude of controversies had compelled Jung to announce her resignation. The company's stock had dropped 45% in 2011. Avon's third quarter earnings report stated that sales targets would be unattainable and disclosed that there were two ongoing SEC inquiries. Net income in the third quarter fell to $164.2 million, or 38 cents a share (below analysts' estimates of 46 cents a share), from $166.7 million, or 38 cents, a year earlier. The results marked the fourth time in five quarters that profit trailed analysts’ projections. There was also a three-year probe into an alleged bribery of foreign officials has already caused the dismissal of four Avon executives.[6][7][8]
Personal
Jung was named one of Forbes 100 Most powerful women in 2004. In 2009, Forbes ranked her the 25th most powerful woman.[9]
Jung's ex-husband, Michael Gould, is the CEO of Bloomingdale's, the company where she had her first job.
In 2001, she was named one of the 30 most powerful women in America by Ladies Home Journal.
References
- ^ "Avon names Sherilyn McCoy CEO, replacing Andrea Jung". http://www.usatoday.com/money/companies/management/story/2012-04-09/avon-ceo-sherilyn-mccoy/54122886/1. Retrieved 11 April 2012.
- ^ "Avon's Andrea Jung: CEOs need to reinvent themselves". USA Today. June 14, 2009. http://www.usatoday.com/money/companies/management/advice/2009-06-14-jung-ceo-avon_N.htm.
- ^ "Andrea Jung - Chairman & Chief Executive Officer, Avon Products, Inc.". Avon Products. http://www.avoncompany.com/aboutavon/boardofdirectors/bod_andrea_jung.html?source=http://www.avoncompany.com/aboutavon/boardofdirectors/index.html&title=Board%20of%20Directors.
- ^ "Andrea Jung's Biography". General Electric. http://www.ge.com/company/leadership/bios_bod/andrea_jung.html.
- ^ "Andrea Jung Joins Apple’s Board of Directors". Apple. January 7, 2008. http://www.apple.com/pr/library/2008/01/07Andrea-Jung-Joins-Apples-Board-of-Directors.html.
- ^ [1]
- ^ Goudreau, Jenna. Forbes. http://www.forbes.com/sites/jennagoudreau/2011/12/14/avon-longtime-ceo-andrea-jung-booted-fired-replaced/.
- ^ Kowitt, Beth (April 30, 2012). "Avon: The Rise and Fall of a Beauty Icon". Fortune 165 (6): 106-114. http://management.fortune.cnn.com/2012/04/11/avon-andrea-jung-downfall/?section=magazines_fortune. Retrieved April 26, 2012. "Exclusive: As CEO of Avon, Andrea Jung made bad bets and missed opportunities. Now she's been replaced - and the 126-year-old company has a second bidder lining up."
- ^ "#25 Andrea Jung". The 100 Most Powerful Women (Forbes). August 19, 2009. http://www.forbes.com/lists/2009/11/power-women-09_Andrea-Jung_8KAO.html.
External links
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Book: Apple Inc. |
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