Avon Appoints Walgreens Exec Chief Financial Officer

Gustavo Arnal has been appointed chief financial officer of Avon Products Inc.
Arnal joined the business from Walgreens Boots Alliance, where he was senior vice president and chief financial officer of international divisions and global functions. Before Walgreens, Arnal was at Procter & Gamble for 20 years, overseeing operations in more than 50 different countries. There, as vice president, cfo of India, Middle East and Africa, he helped turn around the company's India business. He was also vice president and cfo of global fabric and home care, and led a behind-the-scenes supply chain transformation for that business — P&G's largest. He also worked in beauty, overseeing SK-II, Olay, Secret and Max Factor, for a time, and worked in P&G's financial planning department during the Gillette merger.
He will report to Jan Zijderveld, Avon's chief executive officer. Avon's current cfo, Jamie Wilson, has stepped down.
In a statement, Zijderveld said Arnal has "significant and relevant international experience" in key markets. "We expect to benefit from Gustavo's operational experience in leading change in large regions and categories, while developing and driving robust financial performance."
Arnal's appointment is the latest of many at Avon, which is bulking up internally as Zijderveld, who joined the business in February, works to turn around the struggling direct-seller.
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