Talent is the No. 1 priority for a CEO. You think it's about vision and strategy, but you have to get the right people first.

The game in beauty is changing so much, if your product isn't high tech or can't make a unique performance claim - plump your lips, reduce your lines, look glossy, and stay on for 24 hours - you can't go to market today. I'm not just talking about a $20 lipstick, but a $5 lipstick!

There's obviously a correlation between an economically empowered woman and the investments she makes. That leads to her social and moral conscience for bettering her community.

There are pros and cons of experience. A con is that you can't look at the business with a fresh pair of eyes and as objectively as if you were a new CEO. Fire yourself on a Friday night and come in on Monday morning as if a search firm put you there as a turn-around leader. Can you be objective and make the bold change?

No one in my family had a retail or marketing background. They were professionals. They didn't understand just what I was doing by going into retailing. After I started, though, it got into my blood. I knew this was what I wanted.

Avon invented the concept of direct marketing and direct selling beauty. And that's still very valid to us. We'll have a firm that will be around for another 114 years as strongly as it was the first 114.

You know, you go home and you try on a new mascara, and I guess a male CEO can't do that.