Avon’s new CEO was passed over for same job at Johnson & Johnson

    She won’t be the top executive at Johnson & Johnson, but Sherilyn McCoy will be a CEO nonetheless.

    McCoy has been named Avon’s new CEO just weeks after being passed over for the same job at Johnson & Johnson, the Associated Press reports.
    Avon is replacing Andrea Jung, who was hired to rejuvenate business and wrap up a bribery investigation. The makeup and beauty care company has seen declining sales, and shares fell more than 2 percent in morning trading.

    McCoy lost the J&J promotion to Alex Gorsky, head of the company’s medical devices and diagnostics unit.

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