UPDATE 1-Avon says Andrea Jung to leave board at end of year
(Adds details on Jung's tenure, plans, share movement)
Oct 5 (Reuters) - Avon Products Inc said on Friday that Executive Chairman Andrea Jung, who was replaced as chief executive officer in April, has decided to step down from the board at the end of 2012, ending what became a tumultuous tenure in recent years.
Jung, who will stay on as a senior advisor to the world's largest direct seller of beauty products, was at the helm during poorly executed restructurings and supply issues in major markets such as Brazil.
Shares of Avon rose 4.2 percent to $16.90 in premarket trading.
In April, Avon said Jung would be its executive chairman for two years. Instead, she will take on the senior advisor role on Jan. 1, and her contract for that position will run through April 2014, the company said.
Jung, 54, will maintain her base salary of $1 million and other compensation and benefits, a spokeswoman said.
Fred Hassan will become Avon's nonexecutive chairman on Jan. 1. Hassan, currently Avon's lead independent director, is a managing director and partner at Warburg Pincus and former chairman and CEO of Schering-Plough Corp.
Johnson & Johnson senior executive Sherilyn McCoy became Avon's latest CEO in April.
(Reporting by Jessica Wohl and Brad Dorfman in Chicago; Editing by Gerald E. McCormick and Lisa Von Ahn)
Keywords: AVON JUNG/