The in-line trading statement is overshadowed by the news that Andrew Lewis, CFO for the last eight years, is to leave the company at his own behest. Paul Rayner is to step in as the interim CFO, having previously held roles at Liberty Living, Mouchel and Chemring Group. His experience appears a good fit for Avon’s strategy of augmenting organic growth with strategic M&A. As also indicated in the statement, the group finances support the strategy with £2m of net cash in the balance sheet at the year end.
