Avon Products Inc., today announced that Gustavo Arnal has been appointed executive vice president and chief financial officer, effective during Spring 2019.
Arnal will report directly to Jan Zijderveld, Avon’s chief executive officer, as a member of the Executive Committee. Jamie Wilson, Avon’s current CFO, has chosen to step down from his full-time executive role and will be pursuing a range of professional business opportunities in the next stage of his career.
“Gustavo joins us at a critical time, as we continue to build Avon into the digital social selling beauty company for the future,” said Zijderveld. “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.”
Arnal is a seasoned global operating executive with over 25 years of experience working in strategy, operations and finance positions for consumer goods and retail businesses. He joins Avon from Walgreens Boots Alliance (WBA), where he has served as senior vice president, CFO of International Divisions and Global Functions. Prior to WBA, Arnal worked for over 20 years with Procter & Gamble.
“Avon is an iconic brand, operating in significant growth markets and categories throughout the world,” said Arnal. “I was attracted to Avon by the recently announced transformation plans that demonstrate a clear vision and strategy to deliver results in growing beauty categories, emerging markets and the direct selling industry. I look forward to working with Jan and the entire Avon management team to help drive this transformation and deliver enhanced results for shareholders.”