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Avon to separate roles of chairman, CEO


    (Reuters) - Cosmetics company Avon Products Inc said it will separate the roles of chairman and chief executive officer and that current chairman Andrea Jung will be named executive chairman.

    The company said in a statement that it will undertake an external search for a new chief executive.

    Jung will continue to serve in her dual roles through the process and will work with the new CEO to assure a successful transition.

    (Reporting by Arpita Mukherjee in Bangalore; Editing by Unnikrishnan Nair)