Sherilyn S. McCoy (born 1959) is an American scientist and business executive. She is the former
CEO of
Avon Products and former vice chairman and member of the office of the chairman of
Johnson & Johnson, where she was responsible for the pharmaceutical and consumer business divisions of the company. She was appointed as the vice chairman in January 2011, after which she was named by ''
Fortune Magazine'', as the 10th woman on their list of "50 Most Powerful Women in Business", a list on which she has been included since 2008.
In February 2012, she resigned her employment with Johnson & Johnson after 30 years and was subsequently named as the CEO of Avon Products. In August 2012, she was recognized as the 39th most powerful woman in the world by ''Forbes Magazine
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also rep ...
''.
Early life and education
Sherilyn S. "Sheri" McCoy was born in 1959, in Quincy, Massachusetts. She attended the University of Massachusetts, Dartmouth, earning her Bachelor of Science
A Bachelor of Science (BS, BSc, SB, or ScB; from the Latin ') is a bachelor's degree awarded for programs that generally last three to five years.
The first university to admit a student to the degree of Bachelor of Science was the University o ...
degree in textile chemistry. In 1982, she earned a master's degree
A master's degree (from Latin ) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice. in chemical engineering
Chemical engineering is an engineering field which deals with the study of operation and design of chemical plants as well as methods of improving production. Chemical engineers develop economical commercial processes to convert raw materials int ...
from Princeton University
Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the ...
. She received her Master of Business Administration
A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accoun ...
in 1988, from Rutgers University
Rutgers University (; RU), officially Rutgers, The State University of New Jersey, is a public land-grant research university consisting of four campuses in New Jersey. Chartered in 1766, Rutgers was originally called Queen's College, and was ...
. She holds five patents registered in the United States and Europe.
Career
Johnson & Johnson
McCoy joined Johnson & Johnson as a chemical engineer in 1982,[ where she focused on research and development of ]women's health
Women's health differs from that of men in many unique ways. Women's health is an example of population health, where health is defined by the World Health Organization as "a state of complete physical, mental and social well-being and not mer ...
products. She was eventually promoted to lead the company's research and development division, which was followed with a post as the global president of the division of the company that developed products that met the needs of infants, along with products that treated small injuries and wounds. In 2005, she was appointed to serve as the chairman of the Ethicon Endo-Surgery
Ethicon, Inc. is a subsidiary of Johnson & Johnson. It was incorporated as a separate company under the Johnson & Johnson umbrella in 1949 to expand and diversify the Johnson & Johnson product line.
Ethicon has manufactured surgical sutures a ...
device division, where she was responsible for business in Latin America
Latin America or
* french: Amérique Latine, link=no
* ht, Amerik Latin, link=no
* pt, América Latina, link=no, name=a, sometimes referred to as LatAm is a large cultural region in the Americas where Romance languages — languages derived f ...
. She simultaneously served as a member of the Operating Committee of the Medical Device and Diagnostics Group.
Surgical Care and Pharmaceuticals Group
In 2008, McCoy was appointed to chair the Surgical Care Group. This leadership role established her as a member of the company's Executive Committee and one of the highest-ranking female executives in the global drug industry. On January 1, 2009, she was promoted to serve Johnson & Johnson as their Worldwide Chairman of the Pharmaceuticals Group, where she was responsible for new product development and distribution, along with acquisitions and partnerships. She also led the group during legal proceedings and loss of patent exclusivity. In 2010, she was promoted to Vice Chairman of the company.[
]
Avon CEO
In February 2012, after 30 years of employment with Johnson & Johnson, McCoy was passed over for a promotion to succeed William C. Weldon as chief executive officer. When Alex Gorsky, head of the industry trade association
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...
known as Pharmaceutical Research and Manufacturers of America
Pharmaceutical Research and Manufacturers of America (PhRMA, pronounced ), formerly known as the Pharmaceutical Manufacturers Association, is a trade group representing companies in the pharmaceutical industry in the United States. Founded in 195 ...
(PhRMA) and CEO of Novartis
Novartis AG is a Swiss-American multinational pharmaceutical corporation based in Basel, Switzerland and
Cambridge, Massachusetts, United States (global research).name="novartis.com">https://www.novartis.com/research-development/research-loc ...
was named to succeed Weldon, McCoy resigned from Johnson & Johnson, effective April 18, 2012.[
In March 2012, French beauty products manufacturer, Coty attempted a takeover of Avon Products, presenting an unsolicited $10 billion buyout offer.][ The bid was rejected by Avon shareholders, who believed that the company was worth more, stating that the monetary offer was way below the market value that would be feasible under the leadership of a new Chief Executive Officer. On April 9, 2012, just two weeks after the takeover was rejected, it was announced that McCoy was chosen to lead Avon Products as their new CEO, effective April 23, 2012.
In early August 2017, Sheri McCoy was “terminated without cause” from her position as Avon CEO. She had been negotiating an exit since June.] Sales had been depressed for several years.
Board memberships
While employed with Johnson & Johnson, McCoy represented the company as a member of the Board of Directors of PhRMA, the National Quality Forum, and the Institute of Medicine's Roundtable on Value & Science-Driven Health Care.
Following her appointment as CEO of Avon Products, McCoy continues to serve on the Board of Directors of For Inspiration and Recognition of Science and Technology
For Inspiration and Recognition of Science and Technology (''FIRST'') is an international youth organization that operates the ''FIRST'' Robotics Competition, ''FIRST'' LEGO League Challenge, ''FIRST'' LEGO League Explore, ''FIRST'' LEGO Leagu ...
(FIRST), a nonprofit organization based out of Manchester, New Hampshire
Manchester is a city in Hillsborough County, New Hampshire, United States. It is the most populous city in New Hampshire. At the 2020 census, the city had a population of 115,644.
Manchester is, along with Nashua, one of two seats of New Ha ...
, that focuses on developing programs designed to inspire students to consider a career in the fields of engineering and technology. She is additionally a member of the Rutgers University President's Business Leaders Cabinet, while simultaneously serving on the board of Stonehill College, a Roman Catholic liberal arts college located in Easton, Massachusetts
Easton is a town in Bristol County, Massachusetts, United States. The population was 25,058 at the 2020 census. It is part of the Greater Boston area.
Easton is governed by an elected Select Board. Open Town Meeting acts as the legislative br ...
.
In October 2017, McCoy was appointed as a non-executive director of AstraZeneca
AstraZeneca plc () is a British-Swedish multinational pharmaceutical and biotechnology company with its headquarters at the Cambridge Biomedical Campus in Cambridge, England. It has a portfolio of products for major diseases in areas includi ...
.
Honors and awards
* 2008: #44 "50 Most Powerful Women in Business" – ''Fortune Magazine''
* 2009: #14 "50 Most Powerful Women in Business" – ''Fortune Magazine''
* 2010: #12 "50 Most Powerful Women in Business" – ''Fortune Magazine''
* 2011: #10 "50 Most Powerful Women in Business" – ''Fortune Magazine''[
* 2012: #7 "Most Powerful Mom of 2012" – '']Working Mother
''Working Mother'' was a magazine for working mothers launched in 1979 by Founding Publisher Milton Lieberman, who was succeeded by Carol Evans . The founding editor of the magazine was Vivian Cadden, who retired as editor in 1990. Subsequent edi ...
'' magazine
* 2012: #15 "World's Most Powerful Women in Business" – ''Forbes Magazine''
* 2012: #39 "World's Most Powerful Women of 2012" – ''Forbes Magazine''[
]
Patents
;Sanitary napkin with panty gathering flaps
* US4900320: Filing date: June 16, 1986; Issue date: February 13, 1990
* EP0249924: Filing date: June 15, 1987; Issue date: March 4, 1992
;Sanitary napkin
* USD327319: Filing date: February 9, 1990; Issue date: June 23, 1992
;Sanitary napkin
* USD346213: Filing date: November 10, 1992; Issue date: April 19, 1994
;Sanitary napkin
* USD352554: Filing date: November 16, 1992; Issue date: November 15, 1994
;Raised center sanitary napkin with raised edges
* US5599337: Filing date: May 2, 1994; Issue date: February 4, 1997
* EP0685212: Filing date: February 28, 1995; Issue date: December 4, 2002
References
{{DEFAULTSORT:Mccoy, Sheri
Living people
Johnson & Johnson people
American women scientists
Princeton University alumni
Rutgers University alumni
University of Massachusetts Dartmouth alumni
American chemical engineers
1959 births
American women chief executives
People from Quincy, Massachusetts
Businesspeople from Massachusetts
American cosmetics businesspeople
21st-century American businesspeople
American chief executives of fashion industry companies
Members of the National Academy of Medicine
20th-century American chemists
American chief executives of Fortune 500 companies
People associated with direct selling
21st-century American businesswomen
20th-century American women scientists