Gustavo Arnal has been appointed chief financial officer of Avon Products Inc. Arnal joined the business from Walgreens Boots Alliance, where he was senior vice president and chief financial officer of international divisions and global functions. Before Walgreens, Arnal was at Procter & Gamble for 20 years, overseeing operations in more than 50 different countries. There, as vice president, cfo of India, Middle East and Africa, he helped turn around the company’s India business. He was also vice president and cfo of global fabric and home care, and led a behind-the-scenes supply chain transformation for that business — P&G’s largest. He also worked in beauty, overseeing SK-II, Olay, Secret and Max Factor, for a time, and worked in P&G’s financial planning department during the Gillette merger. He will report to Jan Zijderveld, Avon’s chief executive officer. Avon’s current cfo, Jamie Wilson, has stepped down. In a statement, Zijderveld said Arnal has “significant and relevant international experience” in key markets. “We expect to benefit from Gustavo’s operational experience in leading change in large regions and categories, while developing and driving robust financial performance.” Arnal’s appointment is the latest of many at Avon, which is bulking up internally as Zijderveld, who joined the business in February, works

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Fanatics is applying the professional sports model to the college arena for the first time. The leader in licensed sports merchandise has inked a 10-year deal with the University of Oregon to license, manufacture and sell its sports gear beginning on Jan. 1, 2020. The deal is worth $23 million, which includes a $1.5 million signing bonus for the school, plus a guarantee of $21.5 million in royalties over the course of the partnership, according to Bloomberg. Kyle Henley, vice president of communications for the university, said the agreement “is a hedge against volatility.” Earlier this week, the school said it is “facing some financial headwinds that could drive a budget gap of $5.6 million.” The Fanatics deal should help fill that void. In inking the deal, the university stressed that the Fanatics deal excludes Nike, which is the official on-field performance gear provider, as well as Columbia Sportswear, which manufactures some official outerwear. Both Nike and Columbia are based in Oregon. In the past, Fanatics had operated the college’s online store, but this agreement covers the manufacturing of apparel, headwear and other products for the first time. It also allows Fanatics to sell the product to other retailers as well as online. Derek Eiler, college

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