Avon Products Inc. plans to cede a board seat to an activist investor, the company said Monday, as part of a deal that will help the struggling beauty company avoid a proxy fight. James Mitarotonda of Barington Capital Group LP is expected to get a board seat in exchange for an agreement to support management. In connection with the agreement, Barington and its allies have agreed to support the board’s nominees rather than nominate their own as they told the company they intended to do earlier this month.

Source: Wall Street Journal March 26, 2018 22:41 UTC