PZ Cussons brings in Jonathan Myers as new CEO

PZ Cussons announced on Thursday that Jonathan Myers would join the board as chief executive officer, with effect from 1 May.

The FTSE 250 consumer products company described Myers as an “experienced” fast-moving consumer goods (FMCG) executive, having worked for a number of well-known businesses across a range of categories including personal care, homecare and food and nutrition.

He was joining from the $5.5bn multi-level beauty, household and personal care marketing company Avon Products, where he had been chief operating officer since 2017.

With global responsibility for supply chain, marketing, digital, research and development, and IT, PZ Cussons said Myers was a “core member” of Avon’s executive team, delivering a successful turnaround of the business.

He spent the first 21 years of his career at Procter & Gamble, where he worked across a range of categories and had “extensive” experience in Asia, South America and elsewhere.

At P&G he progressed to general manager of oral care and feminine care for the Greater China region, before moving to Kellogg Company - the US multinational food manufacturing group - where he held a number of senior leadership positions, serving as managing director of the UK and Ireland from 2012, and then also vice-president of European markets from 2014.

Caroline Silver would continue to serve as executive chair until Myers joined the business on 1 May.

“Jonathan is an excellent appointment for the company as our new CEO,” said Caroline Silver.

“His wealth of experience in our product categories and of doing business in both developed and developing markets will be invaluable.

“In addition, Jonathan's track record of successful business turnarounds will serve us well as we continue to deliver on the company's strategy of ‘focus, scale and accelerate.”

Jonathan Myers added that it was an “exciting time” to be joining PZ Cussons and taking the business forward as the new CEO.

“It is a company with a rich heritage but with an equally bright future, driven by a portfolio of some of the world's best-loved brands.

“I look forward to working with Caroline, the wider executive team and every member of the PZ Cussons family to create that bright future.”

At the same time, PZ Cussons announced the appointment of Jeremy Townsend as a non-executive director with effect from 1 April.

Townsend was currently the chief financial officer of Rentokil Initial, but was due to retire from that role later in the year.

Jez Maiden, who had served the board as a non-executive director since 2016, had advised the company of his intention to step down on 31 May.

He would be succeeded as chair of the audit and risk committee by Jeremy Townsend.

At 0850 GMT, shares in PZ Cussons were down 0.82% at 161.66p.