Andrea Jung

{{Infobox person

| name = Andrea Jung

| image = Andrea Jung 2010.jpg

| caption = Jung at the International Women of Courage Awards, 10 March 2010

| birth_name =

| birth_date = {{birth date and age|1958|08|28}}

| birth_place = Toronto, Ontario, Canada

| death_date =

| death_place =

| nationality = Canadian and American

| occupation = President, CEO of Grameen America

| alma mater = Princeton University (A.B.)

| spouse = Michael Gould (divorced)

}}

Andrea Jung ({{zh|t=鍾彬嫻|p=Zhōng Bīnxián|j=zung1 ban1 haa4}}; born September 18, 1958{{Cite web |url=https://www.thetimes.com/article/the-avon-lady-with-a-calling-pmm7dwn7gn3 |title=The Avon lady with a calling |date=October 17, 2010 |work=The Sunday Times}}) is a Canadian-American executive, non-profit leader, and prominent women's-issues supporter based in New York City. In April 2014, she became president and CEO of Grameen America, a nonprofit microfinance organization founded by Nobel Peace Prize winner, Muhammad Yunus.{{cite news | url=https://www.wsj.com/news/articles/SB10001424052702303847804579481683309654694 | title=Andrea Jung, Former Avon CEO, to Run Microfinance Group | work=The Wall Street Journal| date=4 April 2014 | access-date=7 April 2014 | first=Joann S. | last=Lublin}} 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.{{cite book|last1=Hirahara|first1=Naomi|title=Distinguished Asian American Business Leaders|publisher=Greenwood Publishing Group|year=2003|isbn=978-1573563444|edition=illustrated}}{{cite web |url=https://www.daimler.com/company/corporate-governance/supervisory-board/jung.html |title=Andrea Jung |publisher=Daimler AG |access-date=23 April 2014 |archive-url=https://web.archive.org/web/20161023141009/https://www.daimler.com/company/corporate-governance/supervisory-board/jung.html |archive-date=23 October 2016 |url-status=dead }}

Jung received the 2010 Clinton Global Citizen Award for her leadership of the 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 US$1 billion to support health and empowerment causes, becoming the largest women-focused corporate philanthropy around the world.{{cite web |url=http://grameenamerica.org/about-us |title=Board of Directors |publisher=Grameen America |access-date=23 April 2014 |archive-url=https://web.archive.org/web/20140412074724/http://grameenamerica.org/about-us |archive-date=12 April 2014 |url-status=dead }}

After resigning her CEO role at Avon, Jung continued as chair of Avon's board of directors through the end of 2012 and then as a senior advisor to Avon's board through April 2014.{{cite news|title=Avon names Sherilyn McCoy CEO, replacing Andrea Jung|url=https://www.usatoday.com/money/companies/management/story/2012-04-09/avon-ceo-sherilyn-mccoy/54122886/1 |access-date=11 April 2012 | work=USA Today|date=9 April 2012}}{{cite news|title=Avon's Andrea Jung Exit Marks End of Era at Cosmetics Retailer|url=https://www.bloomberg.com/news/2012-10-05/avon-executive-chairman-andrea-jung-to-step-down-at-year-end.html |access-date=3 January 2013 | work=Bloomberg|first=Lauren|last=Coleman-Lochner|date=6 October 2012}}

Early life

Jung was born in Toronto, Ontario in 1958 and raised in Wellesley, Massachusetts.{{cite book|last1=Himsel|first1=Deborrah|title=Beauty Queen: Inside the Reign of Avon's Andrea Jung|publisher=Macmillan|year=2014|isbn=978-1137278821}} As a child, she studied the piano and took lessons in Mandarin on Saturday mornings.{{Cite book|title=The Last Male Bastion: Gender and the CEO Suite in America's Public Companies|last=M. Branson|first=Douglas}}

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 graduated magna cum laude with an A.B. in English from Princeton University in 1979 after completing a senior thesis titled "The Fiction of Katherine Mansfield: Reconciliation of Duality."{{Cite thesis |last=Jung|first=Andrea|year=1979|title=The Fiction of Katherine Mansfield: Reconciliation of Duality|url=http://dataspace.princeton.edu/jspui/handle/88435/dsp018g84mn77v}} She is fluent in Mandarin.{{cite news |url=https://www.usatoday.com/money/companies/management/advice/2009-06-14-jung-ceo-avon_N.htm |title=Avon's Andrea Jung: CEOs need to reinvent themselves |work=USA Today|date=14 June 2009}} 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.{{cite news |last=Jones |first=Del |url=http://usatoday30.usatoday.com/money/companies/management/advice/2009-06-14-jung-ceo-avon_N.htm |title=Avon's Andrea Jung: CEOs need to reinvent themselves |work=USA Today |date=15 June 2009 |access-date=23 April 2014 }}

Career

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.{{cite web|url=http://www.avoncompany.com/aboutavon/boardofdirectors/index.html&title=Board%20of%20Directors |title=? |work=avoncompany.com |url-status=dead |archive-url=https://web.archive.org/web/20111011033736/http://www.avoncompany.com/aboutavon/boardofdirectors/index.html |archive-date=11 October 2011 }}

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.{{cite web |url=http://www.avoncompany.com/aboutavon/boardofdirectors/bod_andrea_jung.html?source=http://www.avoncompany.com/aboutavon/boardofdirectors/index.html&title=Board%20of%20Directors|title=Andrea Jung – Chairman & Chief Executive Officer, Avon Products, Inc. |publisher=Avon Products}}

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.{{cite web|url=http://www.businessweek.com/news/2011-12-15/avon-surges-after-saying-andrea-jung-will-step-down-as-ceo.html|archive-url=https://web.archive.org/web/20111229210030/http://www.businessweek.com/news/2011-12-15/avon-surges-after-saying-andrea-jung-will-step-down-as-ceo.html|url-status=dead|archive-date=29 December 2011|title=Bloomberg|publisher=Bloomberg L.P.}}{{cite news | first = Jenna | last = Goudreau | title = Andrea Jung and the Restless: Avon Replacing Longtime CEO | date = 14 December 2011 | work = Forbes | url = https://www.forbes.com/sites/jennagoudreau/2011/12/14/avon-longtime-ceo-andrea-jung-booted-fired-replaced/ | access-date = 29 October 2013}}{{cite journal|last=Kowitt |first=Beth |title=Avon: The Rise and Fall of a Beauty Icon |journal=Fortune |date=30 April 2012 |volume=165 |issue=6 |pages=106–114 |url=http://management.fortune.cnn.com/2012/04/11/avon-andrea-jung-downfall/?section=magazines_fortune |quote=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. |access-date=26 April 2012 |url-status=dead |archive-url=https://web.archive.org/web/20140222135958/http://management.fortune.cnn.com/2012/04/11/avon-andrea-jung-downfall/?section=magazines_fortune |archive-date=22 February 2014}}

Jung was named one of Forbes magazine's 100 Most powerful women in 2004. In 2009, Forbes ranked her the 25th most powerful woman.{{cite news |url=https://www.forbes.com/lists/2009/11/power-women-09_Andrea-Jung_8KAO.html |archive-url=https://web.archive.org/web/20090823173757/http://www.forbes.com/lists/2009/11/power-women-09_Andrea-Jung_8KAO.html |url-status=dead |archive-date=23 August 2009 |title=#25 Andrea Jung |work=The 100 Most Powerful Women |date=19 August 2009}} In 2012, she was named in the list of the worst 5 CEOs of 2012 by Bloomberg Businessweek.{{cite news |url=http://www.businessweek.com/articles/2012-12-13/the-worst-ceos-of-2012 |archive-url=https://web.archive.org/web/20121216020529/http://www.businessweek.com/articles/2012-12-13/the-worst-ceos-of-2012 |url-status=dead |archive-date=16 December 2012 |title=#3 Andrea Jung |work=The Worst CEOs of 2012 |publisher=Bloomberg Businessweek|date=13 December 2012}}

In 2014, Andrea Jung became president and chief executive officer of a non-profit organization, Grameen America. This organization, founded by Muhammad Yunus, a Bangladeshi economist, "provided assistance, often in the form of microloans, to women looking to start small businesses."{{Cite web|url=https://www.britannica.com/biography/Andrea-Jung|title=Andrea Jung {{!}} American businesswoman|website=Encyclopædia Britannica|language=en|access-date=23 March 2020}}

Boards

Jung has been on the board of directors of General Electric since 1998.{{cite web |url=http://www.ge.com/company/leadership/bios_bod/andrea_jung.html |title=Andrea Jung's Biography |publisher=General Electric |access-date=6 October 2011 |archive-url=https://web.archive.org/web/20110912021845/http://www.ge.com/company/leadership/bios_bod/andrea_jung.html |archive-date=12 September 2011 |url-status=dead }}
Jung was on Apple's board of directors in 2008 and 2009, and rejoined the board in 2011, where she remains.{{Cite web |title=Andrea Jung |url=https://www.bloomberg.com/profile/person/1515754 |access-date=2022-11-04 |website=Bloomberg}}
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.{{cite news|url=http://www.thetantasquatowncommon.com/pdfs/tc11.14.13.pdf |title=Business Marketing Gets Social |access-date=5 April 2014 |last=Farmer |first=Douglas |date=14 November 2013 |work=The Town Common |publisher=Turley Publications |url-status=dead |archive-url=https://web.archive.org/web/20140425002837/http://www.thetantasquatowncommon.com/pdfs/tc11.14.13.pdf |archive-date=25 April 2014 }}
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.{{cite news | url = https://www.bloomberg.com/news/2013-02-27/daimler-nominates-avon-ex-chief-jung-to-supervisory-board.html | title = Daimler Nominates Avon Ex-Chief Jung to Supervisory Board | access-date = 27 March 2013 | last = Tschampa | first = Dorothee | date = 27 February 2013 | publisher = Bloomberg L.P.}}
In May 2018, Jung joined the board for Wayfair, an American e-commerce company that sells industrial cabinets, furniture and home-goods.{{cite news|url=https://www.businesswire.com/news/home/20180518005050/en/Wayfair-Names-Andrea-Jung-Board-Directors |title=Wayfair Names Andrea Jung to its Board of Directors |access-date=12 July 2020 |date=18 May 2018}}
In February 2021, Jung joined the New Jersey Council on the Green Economy.{{cite news|url=https://goodofnews.com/2021/02/24/murphy-announces-members-of-the-nj-council-on-the-green-economy/|title=Murphy Announces Members of the NJ Council on the Green Economy|access-date=1 March 2021|date=24 February 2021}}
Jung has been the vice chair, senior independent director, and chair of the compensation committee at the global consumer goods giant Unilever since 2021, three years after she first joined its board.{{Cite web |title=Andrea Jung |url=https://www.unilever.com/our-company/our-leadership/andrea-jung/ |access-date=2023-10-31 |website=Unilever |language=en-GB}}

Personal life

Jung has been married twice. Jung's second ex-husband, Michael Gould, was the CEO of Bloomingdale's, the first company she worked for after college.{{Cite book | url=https://books.google.com/books?id=oCYEAwAAQBAJ |title = Beauty Queen: Inside the Reign of Avon's Andrea Jung|isbn = 9781137278821|last1 = Himsel|first1 = Deborrah|date = 29 April 2014| publisher=Macmillan }}{{Cite web | url=http://www.marketwatch.com/story/andrea-jung-is-avons-ultimate-makeover-artist-2009-12-03 |title = Avon's ultimate makeover artist| date=3 December 2009 }}{{Cite web | url=http://goldsea.com/Text/index.php?id=11179 | title=Asian American: Andrea Jung Marks Avon's 125th Anni with World Tour Goldsea}}

Jung has two children, an adopted son James "Jamie" Gould with her ex-husband Gould, and a daughter Lauren Christensen from her first marriage.{{Cite news|url=http://www.businessweek.com/2000/00_38/b3699004.htm|archive-url=https://web.archive.org/web/20001018002306/http://www.businessweek.com/2000/00_38/b3699004.htm|url-status=dead|archive-date=18 October 2000|title=Andrea Jung|date=18 September 2000|newspaper=BusinessWeek: Small Biz|access-date=17 April 2016}}{{Cite web |url=http://www.asiancemagazine.com/2010/08/30/the-ultimate-power-woman--andrea-jung |title=The Ultimate Power Woman - Andrea Jung | Asiance Magazine |access-date=30 June 2017 |archive-url=https://web.archive.org/web/20120203145421/http://www.asiancemagazine.com/2010/08/30/the-ultimate-power-woman--andrea-jung |archive-date=3 February 2012 |url-status=dead}}{{Cite web | url=http://www.notablebiographies.com/supp/Supplement-Fl-Ka/Jung-Andrea.html | title=Andrea Jung Biography – life, family, children, parents, story, history, school, mother, young, old, born}}

References

External links

[http://www.makers.com/andrea-jung Andrea Jung] Video produced by Makers: Women Who Make America
{{YouTube|KMjWobYe-Ps|2010 Clinton Global Citizen Awards Ceremony}}
[http://www.venly.com/ Venly.com]
{{C-SPAN}}

Category:1958 births

Category:American people of Hong Kong descent

Category:American retail chief executives

Category:American women chief executives

Category:Businesspeople from Toronto

Category:Canadian emigrants to the United States

Category:Canadian people of Hong Kong descent

Category:Canadian retail chief executives

Category:Canadian women business executives

Category:Businesspeople from Massachusetts

Category:Directors of Apple Inc.

Category:General Electric people