Avon chief executive to step down

The news comes as the beauty products firm reports that sales fell 3% to £1.4 billion in the three months to end June.

Since joining the company in 2012, McCoy has launched a three-year transformation plan in 2016, executed the separation of Avon’s North America business, and relocated the company’s corporate headquarters to the UK. She has also appointed a new senior team.

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McCoy said: “With the successful recruitment of a senior executive team with the skill and experience to…