Apple Board Member Under SEC Fire for Avon Mistakes

Apple Board Member Under SEC Fire for Avon Mistakes

Could one of the executives Steve Jobs handpicked for Apple’s Board of Directors be inept? That’s the question some investors are raising following news that the Securities and Exchange Commission is investigating board member Andrea Jung’s role as CEO of Avon Products.

According to the Wall Street Journal, the probe is tarnishing Jung’s reputation and leaving investors with an impression “Avon has a pattern of operational missteps.” Although it’s unknown what actions are at the heart of the SEC’s scrutiny, the cosmetics company junked its current sales targets, calling them “unreachable.” At the same time, Avon’s stock fell 18 percent.

Jung “is fast losing her luster as a string of gaffes raises questions about her management skills,” the Wall Street Journal reported. Investors seem concerned about what the Journal described as “a pattern of operational missteps” by Avon.

While it is unclear how the investigation will impact Apple, it is worth remarking how deeply involved Jung remains in the tech giant’s corporate culture. In 2008, Steve Jobs called her a “strong CEO and marketer.” Later, Jung co-led the search to replace Bill Campbell, a mentor to Jobs. She continues to serve as the head of Apple’s compensation committee, and is the only woman on the tech giant’s seven-member board.

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  • MediaUnbalance

    Wow there seems to be a lot of negative Apple columns on Cult of Mac lately.

  • Steve

    Yeah, I get she’s being investigated, but is she on the compensation committee ?
    How many time do you just quote off news sources instead writing a simple brief wrap of what’s going on?
    It’s like reading three different versions of the same story!  ;-)

  • Shaun

    Ding dong… SEC calling  lol

  • Iphone 5

    just quote off news sources instead writing a simple brief wrap

  • Armando Lio

    who’s editing this stuff?  Paragraph 3 and are are almost identical.

  • Armando Lio

    Paragraphs 3 and 6.

  • Evan Benford

    “PARAPHRASE!”

  • tiresius

    Maybe the author should stick to technology and leave articles about the SEC, etc., to those who can find Wall Street without resorting to a Google Map.  

  • assb10yr5

    CEO of Avon first and Apple board member second. SEC is investigating Avon not Apple. So stop hyping unnecessarily.

About the author

Ed SutherlandEd Sutherland is a veteran technology journalist who first heard of Apple when they grew on trees, Yahoo was run out of a Stanford dorm and Google was an unknown upstart. Since then, Sutherland has covered the whole technology landscape, concentrating on tracking the trends and figuring out the finances of large (and small) technology companies.

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