Citi Reports New CFO For Avon

According to Citi, Avon Products AVP announced that it has selected Kimberly A. Ross (age 46) as the company's new CFO, effective Fall 2011. Citi said that Ross will join Avon from Royal Ahold N.V. where she has served as CFO since 2007, having started with the company in 2001 from Ernst & Young. “With uncertainty now removed about AVP's next CFO, we continue to favor AVP as a company with solid upside potential. Given the stock is trading at less than 13x our 2012 EPS estimate, we maintain our Buy (1M) rating.” Avon Products closed yesterday at $29.72.