Avon names former Walgreens exec new CFO

Avon names former Walgreens exec new CFO

Avon has announced the appointment of Gustavo Arnal as Executive Vice President and Chief Financial Officer, effective in spring 2019.

Arnal will join Avon from Walgreens Boots Alliance where he served as Senior Vice President, CFO of International Divisions and Global Functions. Prior to that, he enjoyed a 20-year stint at US FMCG behemoth Procter & Gamble.

“I am delighted to attract someone of Gustavo’s caliber to Avon, along with his significant and relevant international experience in many of the key markets in which we operate.  We expect to benefit from Gustavo’s operational experience in leading change in large regions and categories, while developing and driving robust financial performance,” said Jan Zijderveld, Avon CEO.

“Gustavo joins us at a critical time, as we continue to build Avon into the digital social selling beauty company for the future.  A key component of our plan to ‘Open Up Avon’ includes accelerating our revenue and margins by 2021, and we are confident that Gustavo will be an asset to our leadership team as we continue our work to drive financial and operational performance for the benefit of shareholders.”

Current CFO, Jamie Wilson, will step down to ‘pursue a range of professional business opportunities in the next stage of his career’.