NEW YORK May 4 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)