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What: Shares of beauty products purveyor Avon Products
So what: Andrea Jung currently occupies both roles, but she will step down as CEO and remain chairman as the company begins an external search for a new CEO. Jung, who also serves on Apple's
Now what: Investors and analysts alike are cheering the move, which is generally a best practice for corporate governance. Caris & Co. and BMO Capital both upgraded the shares to "above average" and "outperform," respectively. The company has been under pressure as revenue growth has slowed and the SEC has been investigating possible violations of the Foreign Corrupt Practices Act. Stepping aside to pave the way for new leadership is the right move under such conditions.
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