Natura Executive Chairman Marques named group CEO as Avon deal closes [Reuters]
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Source: Reuters
Natura Executive Chairman Marques named group CEO as Avon deal closes (Reuters) - Brazilian personal care cosmetics maker Natura & Co Holding SA ( NTCO3.SA ) on Friday named Executive Chairman Roberto Marques as group chief executive officer after closing its acquisition of Avon Products Inc ( AVP.N ). Jan Zijderveld, Avon’s Chief Executive Officer, also stepped down following the completion of the deal. He will be succeeded by Angela Cretu, a veteran of the London-headquartered cosmetics maker, who most recently served as general manager of its Central Europe division. Cretu will report to Marques, along with the chief executives of other Natura-owned brands, Aesop and The Body Shop, the company said. Marques joined Natura’s board four years ago and spearheaded a global expansion that included the acquisition of The Body Shop in 2017. Natura agreed to buy Avon in 2019 through a share swap that valued the over 130-year-old company’s equity at around $2 billion. The buyout came at
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