Jan Zijderveld is quitting his role as CEO at cosmetics manufacturer Avon as the previously announced sale of the company to Natura & Co will be completed.
In a press release, the American cosmetics company reports that Cretu is appointed to the role of CEO in order to "lead the next era of Avon's transformation as she takes responsibility for business operations outside of Latin America and for the oversight of the Avon brand globally." Zijderveld stepped down as the acquisition of his company by Natura & Co, owner of The Body Shop, was officially completed. The acquisition was already announced in May last year.
Zijderveld has been at the helm of Avon for almost two years. The cosmetics company has grown through door-to-door sales by consultants, but that model has increasingly lost ground over online sales in recent years and the London company has undergone various restructuring, with 2,500 jobs lost worldwide.