Beauty Packaging Staff01.03.20
Natura &Co expects to close the acquisition of Avon Products, Inc. today -- and appoint the new senior leadership team to drive the company’s next phase of growth.
The landmark transaction creates the world’s fourth-largest pure-play beauty company.
Luiz Seabra, co-founder of Natura, comments, “Natura has just finished celebrating its 50th anniversary, and there could be no better way to open this next chapter in our history than to welcome Avon into our family. We are united by a shared vision and a passion for beauty and relationships, and together, we will be an even stronger force for good, striving to build a fairer and more beautiful world.”
Natura &Co, which trades on the B3 stock exchange in Sao Paulo, also expects to begin trading through ADRs on the NYSE (NTCO) on January 6.
A New Leadership Team
As the news just went to press that Avon's CEO Jan Zijderveld has stepped down, here are the new leaders that Natural &Co has appointed to take the reigns -- leading the next pahse of Avon's growth.
Roberto Marques is Group CEO
Roberto Marques, who became Executive Chairman of the Board of Directors of Natura &Co in 2017, will now also serve as Group Chief Executive Officer.
He will continue to head the Group Operating Committee, which includes the CEOs of each of the four businesses and brands.
The four business units are:
- Natura &Co Latin America encompasses the P&Ls of Natura, Avon, The Body Shop in the region -- and Aesop in Brazil. This role will also have responsibility for the innovation and stewardship globally of the Natura brand.
- Avon (excluding Latin America), responsible for the P&L of all the market clusters in Europe, Africa, Middle East and Asia. This role will also be in charge of Avon brand innovation and stewardship, globally. Additionally, in the future, it will have responsibility for the Natura brand’s international expansion outside of Latin America.
- The Body Shop
- Aesop
Joao Paulo Ferreira is CEO Latin America, Natura &Co
Joao Paulo Ferreira is assuming the role of CEO Latin America, Natura &Co.
The new organization in Latin America will allow the group’s four brands to maximize their potential, capture significant synergies and accelerate growth across their footprint and multi-channel presence.
Ferreira successfully led Natura’s revitalization of its direct selling model since becoming CEO in October 2016, energizing the new commercial model and digitalization. He had previously been vice-president of operations and Logistics and vice-president of commercial at Natura after a long career at Unilever.
Angela Cretu is CEO of Avon
Angela Cretu is the new CEO of Avon, responsible for the business outside of Latin America and for the oversight of the Avon brand globally.
A native of Romania, Cretu has over 20 years of experience at Avon in various senior executive roles, most recently as group vice president and general manager, Central Europe, responsible for 18 countries.
Prior, Cretu successfully led the Eastern Europe and Africa/Middle East clusters and Global roles. She has a passion for Avon, its employees, Representatives, and customers.
In addition to Cretu's management skills, international perspective and industry experience, she has been deeply involved in Avon’s drive for women’s economic empowerment -- all of which will be major assets to take Avon and Natura forward.
Current CEOs Will Stay: David Boynton, Body Shop & Michael O’Keeffe, Aesop
- David Boynton will remain CEO of The Body Shop, and he will continue to drive the transformation and brand revitalization which is underway and already yielding positive results. Prior, Boynton was formerly CEO of Charles Tyrwhitt and CEO for Western Markets for L´Occitane.
- Michael O’Keeffe, CEO of Aesop since 2003, also remains in his current position. O'Keefe will continue to drive the high growth of this unique and prestigious brand. Along with the support of the rest of the group, he has transformed it into a true triple bottom line business.
The combination of Avon, Natura, The Body Shop and Aesop "significantly amplifies the reach of a multi-channel, multi-brand group -- and it will be an unparalleled leader in the Direct-to-Consumer space," Natura &Co states. It brings beauty to over 200 million consumers through multiple channels.
Natura &Co will hold leading positions in relationship selling, on and offline, through both Avon and Natura, with over 6.3 million Consultants and Representatives.
The group will also have a strong position in retail with more than 3,000 stores and an expanded digital presence across all the companies.
Natura &Co will have combined annual gross revenues of over US$10 billion, more than 40,000 associates, a broad and complementary product portfolio across key categories and a global footprint in over 100 countries.
