Natura Group (Cajamar, Brazil), which officially acquired The Body Shop (London) last week, announced that it is restructuring its corporate governance, and each of its three brands will have its own ceo and executive committee.
The company has selected a new ceo to run The Body Shop but has not yet disclosed who that is. It plans to make that announcement next month. In addition to The Body Shop, the company also owns Natura and Aesop, neither of which will see any immediate changes as they both already have their own ceos.
Allowing each brand to have its own executive will provide for more autonomy for each brand and allow them to each have “a singular focus,” reports Women’s Wear Daily.
The company said it intends to double The Body Shop’s 2016 earnings before interest, taxes, depreciation and amortization of $82 million by 2022.