A new chapter opens at Natura, as the Brazilian cosmetics group sees its three founders step down from the board.
Luiz Seabra, Guilherme Leal, and Pedro Passos have decided to join a new advisory board. “In this new body, which holds no decision-making powers, the three founders will continue to safeguard the values, culture, and way of doing business that have always distinguished Natura,” the group stated in a press release.
Fábio Barbosa, the current chairman of the board, will step down and transition to the future advisory board. He will be succeeded by Alessandro Carlucci, who joined the board last year.
This reshuffle also includes the appointment of five new board members: Flávia Almeida, Gabriela Comazzetto, Pedro Villares, Guilherme Passos, and Luiz Guerra.
João Paulo Ferreira, Natura’s current CEO, will remain on the board of directors.
These changes come as Natura has just completed a major restructuring, which led to the sale of The Body Shop, Aesop, and Avon’s non-Latin American operations.
“Natura has completed a fundamental phase in strengthening its structure. We close this chapter with a more agile, streamlined, and resilient company, and begin a natural transition that has been carefully planned over the course of months. I will continue to work alongside the founders, supporting a new generation of board members and leaders. Together, we will drive a cycle of growth and innovation, always guided by the values that make Natura a unique company,” stated Fábio Barbosa.
Advent takes minority stake
Natura also announced that a fund managed by Advent International, one of the largest global private equity investors, has committed to acquiring an 8% to 10% equity stake in the company through the purchase of outstanding shares within up to 6 months. Upon reaching this minority stake, Advent will be entitled to nominate two additional members to the Board of Directors and to participate in certain advisory committees.
