Natura &Co to reorganize its Group functions

USA - English

• Brazil - Português

Roberto Marques to step down, retiring by year end; Fabio Barbosa assumes role of Natura &Co's main executive to work on a new Group structure

SÃO PAULO , June 15, 2022 /PRNewswire/ -- Following a period of transformative acquisitions and the complex integration of its businesses, processes and a common sustainability vision, now is the time to evolve. Natura &Co is announcing today a Group reorganization in line with its strategic direction to increase the accountability of the individual Business Units and brands - Natura, Avon, The Body Shop, and Aesop. The company will transition to a simpler holding company structure. To this end, non-executive director Fabio Barbosa, Chairman of the People Committee, will lead the Natura &Co Group, as well as a workstream to define the new corporate structure over the next months.

Roberto Marques, current Group CEO and Executive Chairman, is stepping down from these roles.  He will remain on the Board of Directors to help the transition and plans to retire by year end. Other Group roles such as Sustainable Growth Officer and Chief Transformation Officer will no longer exist or will be revisited in the new structure.

Roberto Marques declared: "After a rewarding and intense six years, I'm forever grateful to our entire network of associates, consultants, representatives, and partners for the opportunity to help build Natura &Co into a global and recognized Group of purpose-led brands. A reset of our group and governance structure is the right direction and I'm committed to helping Fabio and the Board over the coming months. I'm also excited about some personal projects and the opportunity to spend more time with my family in the near future."

Fabio Barbosa added: "I've always been an admirer of Natura, of its leadership in sustainability, and the very successful business it has become. I joined the Board five years ago and it has been a great opportunity to contribute to its development. Today we are announcing another important milestone by reenergizing the capacity of the four Business Units. They will be supported by a new and leaner corporate structure that will be implemented in the coming months."

Mr. Barbosa, who chairs Natura &Co's People Committee, is a recognized leader in sustainability. He brings extensive management experience, having served as CEO of the Abril publishing group from 2011 to 2015 and CEO of Santander Brazil from 2008 to 2011. He was previously President of the Brazilian banking federation Febraban from 2007 to 2011 and President of Banco Real/ABN Amro from 1996 to 2008.

Guilherme Leal commented: "0n behalf of Natura's Founders and of the Board of Directors, we are very excited about this new chapter for Natura &Co. Despite the challenging times the world is facing, we trust in the strength of our purpose, and support the restructuring of our Group, with more autonomy and accountability for each of our businesses. This will ultimately lead to better delivery of their strategy. We would also like to thank the people who have been building the Natura &Co Group and thank Roberto who has led, with incredible passion and commitment, a major transformation of our company, amplifying our core message of creating businesses and brands with positive impact. We remain committed to this journey.  Finally, our thanks to Fabio Barbosa for taking on this important role." 

About Natura &Co

Natura &Co is a global, purpose-driven, multi-channel and multi-brand cosmetics group which includes Avon, Natura, The Body Shop and Aesop. Natura &Co posted net revenues of R$40.1 billion in 2021. The four companies that form the group are committed to generating positive economic, social and environmental impact. For 130 years Avon has stood for women: providing innovative, quality beauty products which are primarily sold to women, through women. Founded in 1969, Natura is a Brazilian multinational in the cosmetics and personal care segment, leader in direct sales. Founded in 1976 in Brighton, England, by Anita Roddick, The Body Shop is a global beauty brand that seeks to make a positive difference in the world. The Australian beauty brand Aesop was established in 1987 with a quest to create a range of superlative products for skin, hair and the body.

SOURCE Natura &Co