New Avon LLC Appoints Laurie Ann Goldman as Chief Executive Officer

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January 8, 2019

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Seasoned Consumer Marketing Executive and Former CEO of Spanx to Lead Company’s Next Phase of Growth

NEW YORK, Jan. 8, 2019 /PRNewswire-HISPANIC PR WIRE/ — New Avon LLC* (“Avon” or the “Company”) today announced it has appointed Laurie Ann Goldman as Chief Executive Officer, effective January 14, 2019. Ms. Goldman succeeds Scott White, who joined Avon in 2016 to lead its separation from Avon Products, Inc. and the operational transformation of Avon’s business in North America.

Ms. Goldman, who joined Avon’s Board of Managers in August 2018, is a distinguished marketing and branding executive with more than 30 years of experience at leading consumer products companies. Notably, Ms. Goldman was the Chief Executive Officer of Spanx, a multinational women’s apparel company, for 12 years, and was instrumental in building the brand from a small start-up to a successful global business with a number one position in market and mind share. Earlier in her career, Ms. Goldman held various senior leadership roles in the Global Marketing division of The Coca Cola Company.

“Laurie Ann is an experienced and inspirational leader in women’s lifestyle and consumer products, and we are thrilled to welcome her as our new CEO,” said Lori Bush, Chairwoman of the Avon Board of Managers. “We believe Laurie Ann’s proven brand and business building capabilities, along with her passion for empowering women, make her the ideal CEO to further promote the success of our Representatives and ensure outstanding experiences for their enhanced satisfaction for our customers.”

Ms. Goldman commented, “The right product has the power to change a woman’s life, and each woman has the power to change the world. I’m thrilled to join Avon, the company that invented social selling, and lead the team and community of beauty advisors in driving product sales and progress for women. I thank Scott for his many contributions and look forward to delivering sustained growth through strategic innovation that will invigorate the business and ultimately help women face their futures with confidence.”

Chan Galbato, Chief Executive Officer, Cerberus Operations and Advisory Company, LLC, and Member of the Avon Board of Managers, added, “This transition is the result of our original long-term plan for reinvigorating Avon – to improve the Company’s fundamental operations and then transition to focus on strategic growth. We are grateful for Scott’s leadership during this critical stage of Avon’s development and are confident that the strong foundation he established will allow the Company to thrive in the years to come. In addition to the separation and creation of an efficient corporate infrastructure, Scott drove key initiatives to fully digitize the business, establish strategic partnerships for manufacturing and R&D, and enhance our Representative experience. We are excited for Laurie Ann to now take the Company forward and drive deeper customer engagement and sustained growth.”

Mr. White will transition to a strategic advisor role and work with Cerberus Operations and Advisory Company, LLC, the proprietary operations platform of Cerberus Capital Management, L.P., Avon’s financial and strategic partner. In his role, Mr. White will continue to advise Avon and Ms. Goldman and will also work on key initiatives across Cerberus’ portfolio of operating company investments.

Mr. White commented, “I would like to thank the entire Avon community, including our Representatives, associates, and customers, for their ongoing dedication and belief in our iconic brand, great products, and the opportunities we provide to women throughout North America. I am confident in Avon’s future and believe that with Laurie Ann’s leadership, the Company will be able to drive modern, relevant experiences for our customers while creating sustainable long-term growth. I look forward to continuing to work with the Avon team, as well as Cerberus’ other portfolio companies, in my strategic advisor role.”

Biography of Laurie Ann Goldman
Ms. Goldman is the founder and Chief Executive Officer of LA Ventures, an investment and advisory firm for growth-oriented, consumer-facing businesses. From 2002 to 2014, Ms. Goldman was at Spanx, where she was the first Chief Executive Officer and led the Company from a start-up into a branded global business. Prior to Spanx, Laurie Ann held progressively responsible marketing and operational leadership roles both in Coca Cola USA and Global Marketing at The Coca-Cola Company including heading the Worldwide Licensing division.

In addition to Avon, Laurie Ann currently sits on the Board of Directors of Guess? Inc., Joe and the Juice, and ServiceMaster.

Ms. Goldman graduated with honors from the Moody School of Communication at the University of Texas at Austin and holds a Bachelor of Science degree.

About New Avon LLC
New Avon LLC (“Avon“) is the leading social selling beauty company in North America, with independent sales Representatives throughout the United States, Puerto Rico, and Canada. Avon’s portfolio includes award-winning skincare, color cosmetics, fragrance, personal care, and health and wellness products featuring brands such as ANEW, Avon True Color, Espira, and Skin So Soft, as well as fashion and accessories. Avon has a 130-year history of empowering women through economic opportunity, and supporting the causes that matter most to women. Avon philanthropy has contributed over $1 billion globally toward eradicating breast cancer and domestic violence. Learn more about Avon and its products at www.avon.com.

*New Avon, LLC is a privately held company, established in March 2016, which manufactures and distributes products under the “Avon” name in the United States, Canada, and Puerto Rico – only. All products in the United States, Canada, and Puerto Rico bearing the Avon name are products of New Avon LLC. New Avon LLC is a separate company – a wholly different legal entity – from Avon Products, Inc., which is a global publicly traded corporation, operating in countries outside the United States, Canada, and Puerto Rico.