Avon names J’s McCoy as CEO; shares fall

<p>(Reuters) Avon Products Inc named Johnson Johnson comparison executive Sherilyn McCoy as a new CEO, presenting Coty Inc with another jump in a $10 billion bid for a worlds largest approach seller of cosmetics.
The appointment of McCoy, who mislaid a foe for JJs tip pursuit progressing this year, finished a four-month hunt for a uninformed face to reinstate charismatic authority and CEO Andrea Jung as Avon attempts to spin itself around. At JJ, McCoy was obliged for brands including Neutrogena and Lubriderm.
She is credited with reshaping a pharmaceuticals business that was confronting obvious expirations on vital drugs.
In 2011, she also took over a consumer business that was bedeviled by production issues that led to recalls of products trimming from Tylenol pain reliever to Aveeno baby relaxing lotion.
In February, a problems continued, and Johnson Johnson removed a whole U.S. supply of tot Tylenol after relatives ...