Who’s it going to be?
Natura Group presents today to financial markets its vision for the Group following the acquisition of The Body Shop, the new governance and management structure it is putting in place as well as some initial financial targets. The presentation follows the closing on Thursday September 7 of the transaction.
With the acquisition of The Body Shop, Natura is accelerating its strategy of expanding its international footprint and building a purpose-driven, multibrand, multichannel cosmetics group. The combination will result in a group with proforma retail revenues of US$6.0 billion, EBITDA of US$467 million, an EBITDA margin of 14 per cent, over 18,000 employees and a presence in 69 countries.
Key highlights of the presentation include:
Three Brands, One Vision
The combination brings together under one roof Natura, The Body Shop and Aesop, three powerful, pioneering brands with strong identities that share a commitment to sustainable and ethical business practices. All three companies are committed to generating positive economic, social and environmental impact through such actions as developing vegetable-based products, using traceable and sustainably-sourced ingredients, promoting fair trade with suppliers and rejecting animal testing.
A renewed governance and management structure for enhanced execution
To ensure flawless execution and integration, Natura is putting in place a new governance and management structure. Roberto Marques, a member of the Board of Directors, has been appointed Executive Chairman of the Board. Mr. Marques has had a successful international career of over thirty years with senior leadership positions in Brazil, Latin America, Europe and North America at Johnson & Johnson and most recently at Mondelez International where he was EVP and President North America. Natura’s three founders, Luiz Seabra, Guilherme Leal and Pedro Passos, will remain co-chairmen of the Board of Directors.
The Executive Chairman of the Board will notably be charged with supporting the company’s Board of Directors in implementing Natura group’s global vision and strategy and supervising the three brands and businesses.
Each of the three brands and companies will have its own Chief Executive Officer and Executive Committee, ensuring full autonomy and empowerment. Joao Paulo Ferreira will remain CEO of the Natura business and Michael O’Keeffe will remain CEO of Aesop. A new CEO of The Body Shop has been selected, bringing a strong international and retail background to the Group. His appointment will be announced by October. The three CEOs will operate under the coordination of the Executive Chairman and of the Board of Directors of the Company.