NEW YORK, May 4 (Reuters) - Barington Capital renewed its pressure on cosmetics maker Avon Products Inc, calling on the company to search for a new chief executive, according to a release seen by Reuters on Thursday.
Barington said that Avon’s shares have suffered under Chief Executive Officer Sheri McCoy and that the company needs “the right leadership in place” to recover its position as a leading beauty brand, according to the document.
Barington said its investor group includes NuOrion Partners AG. The New York based activist investor owned 2.8 million shares of Avon worth $14.5 million as of Dec. 31, filings show. (Reporting by Michael Flaherty; Editing by Lisa Shumaker)