|
AVON Products Inc. fired its vice chairman in connection with probes into possible bribery overseas and improper disclosures to Wall Street analysts in the United States, as the company’s investigation into possible corruption overseas reaches higher into the ranks of its executives. Charles Cramb, vice chairman in charge of developed markets for the door-to-door beauty company, is the most senior executive to lose his job amid probes by the company and government into whether Avon violated the Foreign Corrupt Practices Act, which prohibits bribery of foreign officials. Cramb was fired after indications emerged that he had been aware of possible corruption involving officials in China as early as the middle of the last decade, a person familiar with the matter said Monday. SD-Agencies
|