Fortune has named Avon CEO Sheri McCoy to its list of the 50 Most Powerful Women in Business, among a lineup that includes IBM’s Ginni Rometty, Facebook’s Sheryl Sandberg and Yahoo’s Marissa Mayer. McCoy holds the No. 20 spot on the ranking, which considers the size, importance and outlook of the woman’s business in the global economy, as well as her career arc and social and cultural influence.
Since joining Avon in April 2012, McCoy has implemented a comprehensive strategy to restructure the company’s lagging business. Avon has sold its Silpada jewelry business to the former owners and is currently in the midst of exiting several underperforming markets.
“Our second-quarter results reflect continued progress in stabilizing Avon’s business,” said McCoy in a report detailing the company’s second-quarter 2013 performance, which saw total revenue decrease 2 percent to $2.5 billion. “There is still significant work to be done to deliver sustainable performance in the near and longer term, but I’m pleased with the progress to date. We will succeed by continuing our focus on better serving Avon Representatives, creating a compelling consumer proposition, and simplifying our business to drive both top- and bottom-line improvements.”
Sheri is the only woman from a direct sales company named on this year’s list. View the full ranking from Fortune.