Summary Box: Avon Products fires former CFO

AP News
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Posted: Jan 31, 2012 12:20 PM
Summary Box: Avon Products fires former CFO

THE NEWS: Avon Products Inc. has fired its vice chairman and former chief financial officer, Charles Cramb, in the latest move related to its long-running investigation involving possible bribes overseas and its disclosures to Wall Street analysts.

THE CONTEXT: Avon has been investigating possible violations of the Foreign Corrupt Practices Act involving payments made overseas in an ever-widening probe since 2008. Cramb is the highest ranking executive to be let go because of the investigation.

WHAT'S NEXT: The investigation is ongoing.