April 26 (Reuters) - Avon Products Inc said on Friday that longtime board member Fred Hassan resigned from its board to focus on his other professional commitments and that Doug Conant was taking...
April 26 (Reuters) - Avon Products Inc said on Friday that Fred Hassan has resigned from its board and that the chief financial officer will temporarily fill a spot.
Avon Products AVP announced on Friday that independent chairman Fred Hassan would be stepping down immediately in light of " his other professional commitments" (which presently include working as a managing
Andrea Jung (who held the top spot for 12 years) will step down as chairman at the end of the year as a positive one. Fred Hassan will succeed Jung, who will continue to serve as a senior advisor, as nonexecutive chairman; we applaud the separation
offset the weakness in its cholesterol franchise and maximize the profit potential from the Organon acquisition. CEO Fred Hassan and his management team successfully restructured the company when faced with the loss of allergy drug Claritin several
for a 30% discount before considering them. The company's near-term restructuring plans held few surprises. CEO Fred Hassan has recruited numerous senior managers from outside the company (mostly from Hassan's legacy, Pharmacia) and initiated
combination of products and financial wherewithal to rebuild, in our opinion. New leadership is also key, and new CEO Fred Hassan understands this. He's set in motion the necessary changes for a turnaround. He replaced senior management with
erosion will be clearer after second-quarter earnings are released July 23. Despite the company's troubles, we think Fred Hassan 's management changes combined with strong Zetia sales could be enough to rescue Schering-Plough from the smoldering
came from, so financially, it can take the blow. Even so, we think Schering-Plough is a toxic stock until new CEO Fred Hassan has exorcised the company's demons. We'd look elsewhere.
our rating on Schering-Plough--management's secretive and shareholder-unfriendly nature--is evaporating as Fred Hassan puts familiar faces in the top jobs. We're keeping some management risk in our valuation, however, until Hassan