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Picture This - WWD.com

Picture This - WWD.com

Picture This -

CHRISTMAS CHEER JOHN WATERS’ NEW ONE-MAN SHOW OFFERS HIS TWISTED TAKE ON THE HOLIDAYS. PAGE 10 WWD WEDNESDAY, DECEMBER 14, 2011 WOMEN’S WEAR DAILY $3.00 FACONNABLE NAMES NEALE ARTISTIC DIRECTOR. PAGE 2 STAYING ON AS CHAIRMAN Andrea Jung to Cede CEO Title at Avon By ANDREA NAGEL AVON’S “MANAGEMENT issue” may be coming to an end. Andrea Jung will step aside as chief executive officer of Avon Products Inc. next year and transition into the role of executive chairman once a successor is found, the company said Tuesday evening. The move separates the offices of chairman and ceo, both of which Jung currently holds, and responds to Wall Street’s concerns that the longtime beauty executive has lost her ability to foresee obstacles. Jung has been Avon’s chairman and ceo for 12 years. One industry watcher said the news of Jung exiting the ceo role is not surprising and stressed that IN WWD TODAY Helen McCluskey to Take Warnaco ReinsPAGE 2 FINANCIAL: Warnaco on Tuesday named Helen McCluskey chief executive, succeeding Joe Gromek, who is retiring in February. Yellow Light Flashing for Holiday PAGE 6 RETAIL: The latest data on Black Friday weekend show it may not have been as strong as initially thought, while a new NPD survey shows conversion rates rose last week. Denim’s Sustainability Challenge PAGE 7 DENIM: Brands discussed their efforts to make the denim industry more sustainable while also grappling with spiraling demand for cotton. ▲ her successor should be well versed in the direct-selling arena, not the consumer packaged goods one. “This isn’t about loading docks or trucks or the supply chain. This is a direct-sell fix. The company isn’t broken, it’s folded its cards. I refuse to believe the Avon model is irrelevant,” the observer said. Avon’s board plans to work with Jung as it searches for a new ceo. In a telephone interview at press time, Jung said Avon has grown so much during her 12 years as ceo as well as her 18 years with the company that it was time to find a new operational leader with “a fresh lens” to take the company “to the next level.” Asked if her decision was influenced by the company’s poor results and the Securities and SEE PAGE 8 Picture This Call them clothes with a view. Looks for spring get real with striking photographic prints like these on Julian Louie’s silk top and skirt. Bing Bang chain bracelet; Charlotte Bjorlin Delia ring and cuff. For more, see pages 4 and 5. PHOTO BY THOMAS IANNACCONE; STYLED BY MAYTE ALLENDE MODEL: KAROLINA/MUSE; HAIR BY JOSEPH DIMAGGGIO FOR L’OREAL PROFESSIONNEL/BEAUTYWINGNY.COM; MAKEUP BY RYAN MCKNIGHT FOR DIOR/BEAUTYWINGNY.COM; FASHION ASSISTANT: ALEXIS AVILA; STYLED BY MAYTE ALLENDE

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