Morning Coffee Apr 05 2012

The Appeal of Former Avon Exec Joe Ferreira

By damian ghigliotty

Joe Ferreira, the former Avon chief operating officer who left in 2001, must have been one popular guy during his more than 20 years at the New York-based cosmetics company.

Three former Avon chief executives have been pushing the company's directors to speak to Ferreira about coming back on as Avon's new leader, according to The Wall Street Journal.

The former CEOs -- David Mitchell, who ran the company from 1975 to 1983, James Preston, who ran the company from 1989 to 1998, and Charles Perrin, who ran the company from 1998 to 1999 -- told The Journal that external candidates won't understand Avon's business well enough to turn it around.

After leaving Avon, Ferreira, 55, co-founded private-equity firm Goode Partners, which owns the Rosa Mexicano restaurant chain and luxury retailer Intermix, among other companies. He left Avon more than a year after Andrea Jung became CEO in 1999.

Jung's tenure at the company has been plagued by disappointing sales and an SEC probe into possible violations of the Foreign Corrupt Practices Act. Avon's directors cut her compensation by 23% in 2011, denying her a bonus or salary increase. Mitchell and Preston in December criticized Avon for allowing Jung to remain on as chairman after stepping down from her CEO post.

Ferreira said he could not comment on a potential return to Avon. (WSJ)

Sales Buzz

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Krill's Compensation (WSJ)

Kay Krill, chief executive of retail company Ann Inc., received $10.8 million in total compensation in 2011, a 5% increase from his total earnings in 2010.

Twitter Jobs (Reuters)

Twitter is opening an office in Detroit to be closer to the big three. The company is also creating 12 sales jobs in Ireland at its Dublin office.

Packaging Customer Solutions (Sales Machine)

Sales Machine offers nine ways to better package and present customer solutions, such as searching the U.S. Patent Office website to find out whether you can trademark the name.

Marketing Buzz

The Yahoo Axe Falls (WSJ)

Yahoo has started cutting 2,000 of its 14,000 workers, including many of those in its marketing division and product group. Further cuts are expected to come.

Empowering Women (Retailing Today)

Walgreens vice president of retail marketing, Catherine Lindner, is taking on an additional role as vice chair of the Network of Executive Women, a nonprofit organization that works to attract, retain and advance women in the retail and consumer goods industries.

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Not all chief marketing officer roles are identical, but rampant turnover is common. Ad Age offers guidelines that marketers can use to better understand potential CMO positions.

Buzz Around the Office

Spiderman Piñata (YouTube)

Whack! Take that Spidey!

List of the Day: Hunkering Down

If you want to avoid a round of layoffs, here's how to make yourself indispensable.

1. Volunteer for high profile assignments across the organization.

2. Take on extra work without complaint.

3. Anticipate your boss' needs.

(Source: The Globe and Mail)

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