Andrea Jung, CEO of cosmetics company Avon, announced Wednesday that she would be stepping down as chief executive for the company. Ms. Jung will retain her position as chairman of Avon’s board of directors. The cosmetics executive will be better to known to many tech watchers as a member of Apple’s board of directors, where she serves as head of the company’s executive compensation committee.
Ms. Jung was once a shining star in the executive world. She took over the helm of Avon in 1999, and her company’s stock more than tripled during the first six years of her tenure. In recent years, the company’s stock has suffered, in part because the firm is facing bribery charges related to its efforts to get into the Chinese market.
Apple named her to its board in June of 2008. Apple had long faced charges of having a weak board, as well as a board that quite small and lacked diversity. She was the first woman to serve on the company’s board, and one of only a couple of non-white members (Gareth Chang, also of Asian descent, left Apple’s board in 2002).
Apple’s other board members include Arthur Levinson (non-executive chairman), Bill Campbell, Tim Cook, Millard Drexler, Al Gore, Robert Iger, Ronald Sugard, PhD
As of this writing, Ms. Jung is still listed as both chairman and CEO of Avon.