Investors are starting to realize that when it's Avon calling, they probably shouldn't answer. The cosmetics company is unlikely to escape its steady decline, despite the unblushing optimism of Wall Street analysts.
From PepsiCo to Avon to Xerox, these women are responsible for some of the biggest companies and brands that consumers touch and feel everyday. And this year, there's a new No. 1 on Fortune's list of the most powerful women.