Bloomberg News

Avon's New CEO, AOL Patent Deal for $1.056B

April 09, 2012

Bloomberg's Dominic Chu reports that Avon Products Inc. (AVP:US) said Sherilyn “Sheri” McCoy has been named chief executive officer, effective April 23, and will join the cosmetics maker’s board. Also, AOL Inc. (AOL:US) said it agreed to sell more than 800 of its patents and related patent applications to Microsoft Corp. (MSFT:US) and grant the software maker a non-exclusive license to its retained patent portfolio for about $1.056 billion in cash. He speaks on Bloomberg Television's "Inside Track." (Source: Bloomberg)

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Companies Mentioned

  • AVP
    (Avon Products Inc)
    • $9.46 USD
    • 0.13
    • 1.37%
  • AOL
    (AOL Inc)
    • $45.17 USD
    • 1.77
    • 3.92%
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