Beijing time on May 5 news this morning, according to foreign reports, direct sales giant Avon products cosmetics company (Avon Products Inc) of an internal investigation of bribery disclosed, employees of the company officials may have been to several countries around the world for illegal bribes.
According to the Wall Street Journal quoted a person familiar with the words said there was evidence, Avon had paid millions of dollars in suspect payments to Brazil, and Mexico, and Argentina, and India, and Japan officials. According to the newspaper, Avon was arrested for bribing officials problems recent dating back to 2010, near the dated back to 2004.
At present, an employee on suspicion of bribery of Avon in these markets have been suspended, and expected to rise to more executives suspended.
Avon could not be immediately contacted for comment. Avon China market starting from the 2008 survey of bribery case.
The company spent about $ 96 million in 2010 year to investigate allegations of bribery, and that will still spend the same amount this year. Avon published recently disclosed in quarter 4 executive positions has been suspended, they were required to administrative break level before the results came out.
Interdiction of 3 employees in China s.k. Kao in China, the Chief Financial Officer, respectively JimmyBeh and C.Q.Sun in charge of Corporate Affairs, fourth employee is has served as the Asia-Pacific Chief Financial Officer, Leonard Rossiter, head of internal audit in Avon global (Ian Rossetter). Avon is currently adjusting the company structure, to improve the performance of markets such as Latin America. Last year, Avon over 42% of the revenue comes from the Latin American market. In February this year, Avon announced plans to cut 6 business units to two, a focus on the development of the markets of developed countries, another focused on developing countries.
