Andrea Jung
Andrea Jung | |
|---|---|
| Born | September 18, 1958 Toronto, Ontario, Canada |
| Occupation(s) | Business leader, nonprofit executive |
| Years active | 1979–present |
| Known for | CEO and chairman of Avon Products, Inc.; president and CEO of Grameen America; board member of General Electric, Apple Inc., Daimler AG, Wayfair, Unilever |
Andrea Jung (, ; ; born September 18, 1958) is a Canadian-American business leader and nonprofit executive residing in New York City. In April 2014, she assumed the role of president and CEO at Grameen America, a nonprofit microfinance institution established by Nobel Peace Prize laureate Muhammad Yunus. Between 1999 and 2012, Jung made history as the first woman to serve as CEO and chairman of Avon Products, Inc., a prominent multi-level marketing corporation. Additionally, she held leadership positions as Chairman of both the Cosmetic, Toiletry & Fragrance Association and the World Federation of Direct Selling Associations.
In recognition of her stewardship of the Avon Foundation for Women and its collaborative public-private initiatives aimed at combating violence against women and fighting breast cancer, Jung received the 2010 Clinton Global Citizen Award. During her leadership, the Avon Foundation generated close to US$1 billion, establishing itself as the largest corporate philanthropy devoted to women's health and empowerment worldwide.
Following her departure as Avon's CEO, Jung continued as chairperson of Avon's board until late 2012 and served as a senior advisor until April 2014.
Early life
Born in Toronto, Ontario in 1958, Jung grew up in Wellesley, Massachusetts. Her early education included piano lessons and Mandarin language studies. Her mother, an amateur pianist from Shanghai, and her father, a retired architect from Hong Kong who formerly taught at MIT, influenced her upbringing. Jung graduated magna cum laude from Princeton University in 1979 with an A.B. in English, completing a senior thesis on Katherine Mansfield. She is proficient in Mandarin. Her brother, Mark Jung, also a Princeton alumnus, co-founded and led IGN Entertainment through its acquisition by NewsCorp.
Career
Jung's career includes serving as executive vice president at Neiman Marcus, where she managed women's apparel, accessories, and cosmetics divisions, following her role as senior vice president at I. Magnin. She joined Avon Products, Inc. in 1994 as president of product marketing and advanced to president of global marketing by 1996. In 1997, she was promoted to executive vice president and president of global marketing and new business development. By 1998, she became president and COO with oversight of global business units and secured a seat on Avon's board. In November 1999, Jung was elevated to chairman and CEO.
In December 2011, Avon initiated a search for a new CEO amid multiple challenges: a 45% drop in stock price that year, missed revenue goals, two ongoing SEC investigations, and a three-year bribery inquiry that resulted in executive terminations. The company's third-quarter net income also fell below analyst expectations for four out of five consecutive quarters.
Jung earned recognition on Forbes magazine's list of the 100 Most Powerful Women in 2004 and ranked 25th in 2009; however, Bloomberg Businessweek included her among the worst CEOs in 2012.
In 2014, she took on the role of president and CEO at Grameen America, a nonprofit organization founded by economist Muhammad Yunus that provides microloans specifically to female entrepreneurs.
Boards
- Since 1998, Jung has been a member of the board of directors at General Electric.
- She served on Apple's board during 2008 and 2009 before rejoining in 2011, where she continues to serve.
- In 2013, Jung co-founded Venly, a Cambridge-based software company focused on training graduates and veterans as social media consultants for small businesses; she also chaired its board.
- That same year, she was appointed to the supervisory board of Daimler AG to enhance female representation.
- In May 2018, Jung joined the board of Wayfair, an American e-commerce firm specializing in furniture and home furnishings.
- She became a member of the New Jersey Council on the Green Economy in February 2021.
- Since joining its board three years prior, Jung has served as vice chair, senior independent director, and chair of the compensation committee at global consumer goods company Unilever.
Personal life
Jung has entered into marriage on two occasions. Her second former spouse, Michael Gould, served as the CEO of Bloomingdale's, which was also her initial workplace following college.
She is a mother to two children: an adopted son named James "Jamie" Gould with Michael Gould, and a daughter, Lauren Christensen, from her first marriage.
See also
External links
- Andrea Jung Interview featured in Makers: Women Who Make America
- Venly.com
- Pages with script errors
- Articles with short description
- Articles with hCards
- No local image but image on Wikidata
- 1958 births
- American people of Hong Kong descent
- American retail chief executives
- American women chief executives
- Businesspeople from Toronto
- Canadian emigrants to the United States
- Canadian people of Hong Kong descent
- Canadian retail chief executives
- Canadian women business executives
- Businesspeople from Massachusetts
- Directors of Apple Inc.
- General Electric people
- Living people
- People associated with direct selling
- People from Wellesley, Massachusetts
- Princeton University alumni
- American nonprofit chief executives
- 20th-century American businesspeople
- 21st-century American businesspeople
- American cosmetics businesspeople
- American chief operating officers
- American chief executives of financial services companies
- American people of Chinese descent
- 20th-century American businesswomen
- 21st-century American businesswomen
- American businesspeople in online retailing