Avon Products adds Cerberus vice chairman to board as Mayer retires

|About: Avon Products, Inc. (AVP)|By:, SA News Editor

Avon Products (NYSE:AVP) says in a filing that Steven Mayer is retiring from the board, and it's adding Cerberus Capital Management's vice chairman in his place.

Mayer is exiting due to other commitments and not due to disagreement with management or the board.

Meanwhile, Cerberus affiliate Cleveland Apple Investor voting its 435,000 C shares in favor of putting Cerberus Vice Chairman Lenard Tessler to the board as a preferred director. He'll be compensated as an independent nonmanagement director and serve for until the next annual meeting.