News of the appointment was well received by both industry analysts and the investment world, reflected by the fact that share prices on the NYSE hit a 52-week high – a significant sign after a prolonged period of sliding prices.
The role given to Munoz means that he is heading up the turnaround for the company’s business in the United States, Canada and the Caribbean – a region that was a stronghold for the business, but one that has seen significant decline in recent years.
Aiming for a solid and profitable US business
Avon says the aim of the new appointment it to help it turn the North American operations back into a solid and profitable business.
"Pablo is an innovative thinker and a big-picture strategist with strong operating skills and a proven track record of driving growth,” said Avon CEO Sheri McCoy, to whom Munoz will be reporting directly to.
“Pablo is stepping into this role at an important time in our company's history and Avon will be well-served by his deep experience in both consumer products and direct sales, including his passion for motivating Representatives."
Headed up Asia Pacific and Latin American operations
Munoz joined Tupperware Brands back in 1993 and rose to the position of group president for the Americas region, a role he took on in 2011, and what that also gave him responsibility for the fast-growing Latin America market.
Under his leadership, he served to turn around the company’s Latin American operations, helping to turn it from its smallest business division into one of its biggest in terms of revenues and profit.
During the 20 years at Tupperware his focus had been on growing the company’s home and personal care businesses in both Latin America and the Asia Pacific regions, with a specific emphasis on incentivizing sales representatives as well as developing the brands.