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

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

April 9 (Bloomberg) -- Bloomberg's Dominic Chu reports that Avon Products Inc. said Sherilyn “Sheri” McCoy has been named chief executive officer, effective April 23, and will join the cosmetics maker’s board. Also, AOL Inc. said it agreed to sell more than 800 of its patents and related patent applications to Microsoft Corp. 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."

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