Every year, Forbes compiles a list of the “100 Most Powerful Women” from among top politicians and CEOs, activist billionaires and celebrities, next-gen entrepreneurs and philanthropists. Avon CEO Sheri McCoy, who ranked No. 39 in 2012, landed the No. 27 spot on this year’s list of power women. Prior to joining Avon last April, McCoy spent 30 years at Johnson & Johnson, where she oversaw 60 percent of revenue as Vice Chair of the pharmaceutical giant.
In a February Q & A with Forbes, McCoy shared her vision for Avon’s future. She said her team’s turnaround plan focuses on “driving growth—getting the right growth platforms—simplifying and getting our business much more efficient, and in doing that driving costs out, and ultimately to build organizational capabilities and strengths for the future.”
Commencing its simplification efforts, Avon has already announced plans to cut 400 jobs and pull out of the Irish market; however, the company has no intention of scaling back in its information systems and selling tools. McCoy shared plans to invest $200 million in embracing digital tools and developing social media capabilities to better support the company’s Independent Sales Reps.