New Avon LLC Appoints Jack Stahl Chairman of the Board of Managers

NEW YORK, June 1, 2016 /PRNewswire/ -- New Avon LLC today announced that Jack Stahl has been appointed Chairman of the company's Board of Managers, effective June 1, 2016. He succeeds Chan Galbato, Chief Executive Officer, Cerberus Operations and Advisory Company LLC, who had been serving as acting Chairman following the acquisition of Avon Products Inc.'s North American business by Cerberus Capital Management earlier this year. Mr. Galbato will continue to serve on the Board of Managers.

New Avon also announced that its Chief Executive Officer Scott White was appointed to the Board of Managers, effective immediately.

"Jack is a proven leader whose extensive Board and management experience and expertise leading iconic brands will be instrumental in positioning New Avon's business for long-term success," said Mr. Galbato. "Additionally, in the short time that he has been with New Avon, Scott has demonstrated a deep passion for the company and a relentless desire to make New Avon the best direct selling company and beauty brand in North America. We are thrilled to have them both on the Board of Managers and look forward to a continuation of the great progress delivered thus far."

Mr. Stahl is a veteran of the beauty and consumer products industries, having spent over 30 years occupying leadership positions and serving on the boards of leading corporations. He is the former President & Chief Operating Officer of The Coca-Cola Company and former Chief Executive Officer & President of Revlon. Mr. Stahl serves on the Boards of Delhaize Group, Advantage Solutions LLC, and Catalent, Inc. He previously served on the Boards of Coty Inc., Saks, Inc., Schering-Plough, and Dr Pepper Snapple Group. In addition, Mr. Stahl has a strong record of philanthropic involvement including currently serving as the Chairman of the Board of Governors of The Boys and Girls Clubs of America.

"As a strong believer in the direct selling model and a long admirer of the Avon brand, I am honored to chair the New Avon Board at this pivotal moment for the company," said Mr. Stahl. "Together with Scott, his talented management team, a truly remarkable group of Associates, and an unmatched network of Representatives, we will work to reassert Avon's leadership in the direct selling and beauty industries."

Mr. White joined New Avon as Chief Executive Officer on April 25, 2016, and is responsible for leading the transformation of the North American business, with the goal of significantly improving the Representative and consumer experience, reinvigorating the iconic Avon brand, and reestablishing operational excellence. He joined New Avon from Abbott Laboratories, where he most recently served as President of Abbott Nutrition International.

"My first six weeks at New Avon have been incredibly inspiring and productive, and I'm thrilled to expand my role with this Board seat," said Mr. White. "With the addition of Jack's counsel and experience, I am even more confident in our ability to revitalize our business for the benefit of our Representatives, Associates and consumers across North America."

In addition to Messrs. Galbato, Stahl, and White, members of the New Avon Board of Managers include:

• Ethan Klemperer, President, Cerberus Operations and Advisory Company, LLC.
• Susan Kropf, Former President and Chief Operating Officer Avon Products, Inc.
• Steven Mayer, Senior Managing Director, Co-Head Global Private Equity and Chairman of Investment Committee, Cerberus Capital Management, L.P.
• Sheri McCoy, Chief Executive Officer, Avon Products, Inc.
• Michael Sanford, Managing Director and Co-Head North American Private Equity, Cerberus Capital Management, L.P.

About New Avon LLC
New Avon LLC is the leading social selling beauty company in North America. The company generated over $1 billion in revenues during 2015, and has nearly 400,000 independent sales Representatives in the United States, Puerto Rico and Canada. New Avon's product portfolio includes award-winning skincare, color cosmetics, fragrance and personal care products, featuring iconic brands such as Anew, Avon Color, Mark, and Skin So Soft, as well as fashion and accessories. Avon has a 130-year history of empowering women through economic opportunity, and the company also proudly supports the Avon Foundation for Women in its efforts to end breast cancer and domestic violence. Learn more about New Avon and its products at www.avon.com.

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SOURCE New Avon LLC

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