Avon Products has named its chief finance and strategy officer Charles Cramb as vice chairman of Developed Market Group effective March 1, in line with its new management realignment. Additionally, Charles Herington, was named Executive Vice President of the new Developing Market Group.

Cramb will continue as CFO for New York-based Avon on an interim basis, pending the announcement of a new CFO, whose search is underway now.

As part of the realignment, the company is repositioning its six commercial business units into two major business groups – the Developed Market Group and the Developing Market Group. Avon noted that the move will provide added management depth and increased operational oversight of its commercial business units.

The Developed Market Group comprises the commercial business units of North America and Western Europe, Middle East and Africa, which include the company’s recently-acquired new businesses, Silpada and Liz Earle. The division will have Jorge Martinez-Quiroga as senior VP and commercial business unit leader, Avon North America, and Anna Segatti as Senior VP and commercial business unit leader, Western Europe, Middle East and Africa.

Avon also named Charles Herington, Executive VP, Developing Market Group, who will lead the group’s commercial business units of Latin America, Central and Eastern Europe, and Asia Pacific. Charles Herington is currently Executive VP, Latin America and Central and Eastern Europe.