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Avon's Stock Falls Following CFO Resignation

September 9, 2014: 12:00 AM EST
Cosmetics direct seller Avon Products Inc.’s stock fell after its chief financial officer Kimberly Ross resigned. Effective on October 2, 2014, the CFO’s resignation is likely to have an adverse impact on the company’s turnaround efforts. Saddled with declining sales, Avon has taken steps to reduce operating costs, laid off thousands of employees, and exited unprofitable markets to revive its business. Avon vice president and corporate controller Robert Loughran will be the temporary replacement of Ross, who has taken the CFO job at oilfield services firm Baker Hughes.
"Avon stock declines after CFO Ross resigns", Associated Press, September 09, 2014, © The Associated Press
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