Avon Proxy Fight Launched: A group linked...
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From Times Staff and Wire Reports
Avon Proxy Fight Launched: A group linked to Mary Kay Cosmetics will seek four seats on Avon Products Inc.’s board to advocate selling the direct sales company in an effort to maximize shareholder value. In a full-page advertisement in the New York Times, Chartwell Associates L.P., which currently hold 9.9% of Avon’s outstanding stock, said it might propose merging with Avon itself. Among the partners in Chartwell is John P. Rochon, the vice chairman of Mary Kay Corp.
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