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.Related