Andrea Jung (鍾彬嫻, pinyin: Zhōng Bīnxián, jyutping: zung1 ban1 haa4) (born 1958) is a Canadian-American executive, non-profit leader, and prominent women's-issues supporter. In April, 2014, she became President and CEO of Grameen America, a nonprofit microfinance organization founded by Nobel Peace Prize winner, Muhammad Yunus. Grameen is the fastest-growing microfinance organization in the United States, providing the largest number of microfinance loans to individuals and small businesses. From 1999 until 2012, she served as the first female CEO and chairman of Avon Products, Inc., a multi-level marketing company. Jung was also the first woman to serve as Chairman of the Cosmetic, Toiletry & Fragrance Association, and Chairman of the World Federation of Direct Selling Associations.
Andrea Jung (far right) with Reese Witherspoon, Michelle Obama, and Hillary Clinton at the International Women of Courage Awards, 10 March 2010.
|Born||1959 (age 59–60)|
|Alma mater||Princeton University (B.A.)|
|Occupation||President & CEO of Grameen America|
|Spouse(s)||Michael Gould (divorced)|
Jung received the 2010 Clinton Global Citizen Award for her leadership of Avon Foundation for Women and other public-private partnerships to end violence against women and to stem the breast cancer epidemic. Under her leadership, the Avon Foundation for Women raised and awarded nearly $1 billion to support health and empowerment causes, becoming the largest women-focused corporate philanthropy around the world.
Her mother is a Shanghai-born amateur pianist. Jung's father is a Hong Kong-born retired architect, formerly a partner at TRO Jung Brannen, who also taught at the Massachusetts Institute of Technology. Jung is a magna cum laude graduate of Princeton University and is fluent in Mandarin. Her brother, Mark Jung, also graduated from Princeton University and went on to become co-founder and CEO of IGN which he continued to run after its acquisition by NewsCorp.
Jung was executive vice president of Neiman Marcus, responsible for all of women's apparel, accessories, and cosmetics. Before that, she was senior vice president, general merchandising manager, for I. Magnin.
Jung joined Avon Products, Inc. in 1994 as the company's president in its product marketing group. She became president of global marketing in 1996 and executive vice president/president of global marketing and new business in 1997. Her responsibilities at that time centered primarily around market research, joint ventures and strategic planning. She then became president and chief operating officer, with responsibility for all business units of Avon worldwide. She has been on the company's board of directors since 1998. In November 1999, Jung was promoted to chairman of the board and chief executive officer.
In December 2011, Avon announced that it had initiated a search for a new chief executive with Jung helping to choose her replacement and continuing as chairman of the board for the next two years. Avon faced several controversies at the time of her resignation. The company's stock had dropped 45 percent in 2011. Avon's third quarter earnings report stated that sales targets would be unattainable and disclosed that there were two ongoing SEC inquiries. Net income in the third quarter fell to $164.2 million, or 38 cents a share (below analysts' estimates of 46 cents a share), from $166.7 million, or 38 cents, a year earlier. The results marked the fourth time in five-quarters that profit trailed analysts' projections. There was also a three-year probe into an alleged bribery of foreign officials has already caused the dismissal of four Avon executives.
Jung was named one of Forbes magazine's 100 Most powerful women in 2004. In 2009, Forbes ranked her the 25th most powerful woman. In 2012, she was named in the list of the worst 5 CEOs of 2012 by Bloomberg Businessweek.
- Jung has been on the board of directors of General Electric since 1998.
- Jung was a member of the Board of Trustees of Princeton University from July 1999 to June 2003.
- Jung was a member of the Board of Trustees of NewYork–Presbyterian Hospital from 2001-2014.
- Jung joined Apple's board of directors on 7 January 2008.
- In 2013, Jung became co-founder and chair of the board for Venly, a Cambridge, Massachusetts distributed resource software and services firm that trains recent graduates and returning veterans to be community social media consultants for local businesses.
- In February 2013, Jung was nominated as a member of the supervisory board of Daimler AG, part of the company's plan to increase female representation.
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Exclusive: As CEO of Avon, Andrea Jung made bad bets and missed opportunities. Now she's been replaced - and the 126-year-old company has a second bidder lining up.
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- Himsel, Deborrah (29 April 2014). Beauty Queen: Inside the Reign of Avon's Andrea Jung. ISBN 9781137278821.
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- "Archived copy". Archived from the original on 3 February 2012. Retrieved 30 June 2017.CS1 maint: archived copy as title (link)
- "Andrea Jung Biography - life, family, children, parents, story, history, school, mother, young, old, born".