Founders exit Natura board; Creation takes minority stake

A brand new chapter opens at Natura, because the Brazilian cosmetics group sees its three founders step down from the board.

Luiz Seabra, Guilherme Leal, and Pedro Passos have determined to hitch a brand new advisory board. “On this new physique, which holds no decision-making powers, the three founders will proceed to safeguard the values, tradition, and means of doing enterprise which have at all times distinguished Natura,” the group said in a press launch.

Fábio Barbosa, the present chairman of the board, will step down and transition to the longer term advisory board. He will likely be succeeded by Alessandro Carlucci, who joined the board final 12 months.

This reshuffle additionally consists of the appointment of 5 new board members: Flávia Almeida, Gabriela Comazzetto, Pedro Villares, Guilherme Passos, and Luiz Guerra.

João Paulo Ferreira, Natura’s present CEO, will stay on the board of administrators.

These adjustments come as Natura has simply accomplished a serious restructuring, which led to the sale of The Physique Store, Aesop, and Avon’s non-Latin American operations.

“Natura has accomplished a elementary section in strengthening its construction. We shut this chapter with a extra agile, streamlined, and resilient firm, and start a pure transition that has been fastidiously deliberate over the course of months. I’ll proceed to work alongside the founders, supporting a brand new era of board members and leaders. Collectively, we are going to drive a cycle of progress and innovation, at all times guided by the values that make Natura a novel firm,” said Fábio Barbosa.

Creation takes minority stake

Natura additionally introduced {that a} fund managed by Creation Worldwide, one of many largest world personal fairness buyers, has dedicated to buying an 8% to 10% fairness stake within the firm via the acquisition of excellent shares inside as much as 6 months. Upon reaching this minority stake, Creation will likely be entitled to appoint two further members to the Board of Administrators and to take part in sure advisory committees.