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Wednesday, April 4, 2012

CORRECTED-Avon CEO's compensation fell 23 percent in 2011, (NYSE: AVP)

Avon Products Inc Chief Executive Andrea Jung earned 23 percent less compensation in 2011, failing to earn a bonus because of what the world's largest cosmetics seller called a "challenging" year.Jung, 53, received total compensation of $10.1 million, down from $13.2 million in 2010, according to a regulatory filing late on Tuesday. Her base salary of $1,375,000 remained unchanged.In December, she agreed to step down as CEO and help Avon find a successor. She will stay on as an executive chairman for two years after her replacement is in place.Avon, which is the target of a $10 billion takeover bid by cosmetics company Coty Inc, denied bonuses to Jung and other executives because of the company's performance in 2011.

Avon Products, Inc. (Avon) is a manufacturer and marketer of beauty and related products. Shares of AVP traded higher by 3.52% or $0.78/share to $22.97. In the past year, the shares have traded as low as $16.09 and as high as $31.60. On average, 6698030 shares of AVP exchange hands on a given day and today's volume is recorded at 2069928.



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