Avon suspends four executives on alleged bribery charge: report
13 Apr 2010
Avon Products Inc, the US cosmetics and perfume giant has reportedly suspended four of its executives amid an alleged bribery investigation involving more than a dozen countries including China.
The Wall Street Journal reported yesterday that the suspension of the executives came amid an internal investigation into alleged bribery that began with the company's China operation, and now involves a dozen or more countries.
The New York-based company run by CEO Andrea Jung, which markets its products in over 140 countries and has an annual sales turnover of over $10 billion has suspended the president, chief financial officer and top government affairs executive at its China unit.
The Journal, citing people familiar with the matter said that the fourth suspended employee was a senior executive in New York who was Avon's head of internal audit until the middle of last year.
The four employees had been asked to take administrative leaves of absence pending the outcome of the company's investigation.
The investigation focuses on the alleged bribing of Chinese government officials with ties to Avon's business by funding their trips to France, New York, Canada and Hawaii.
