– BRAZIL, São Paulo – Natura &Co (B3: NATU3) today announced that Nancy Killefer, Andy McMaster, and Don Cornwell will join its Board of Directors as new members following the closing of the acquisition of Avon Products, Inc., which is expected in the first quarter of 2020, as part of a new corporate governance structure to lead the world’s fourth-largest pure-play beauty group.
With the designation of the three new members, who are currently part of Avon’s Board, Natura &Co’s Board of Directors will count 13 members, nine of them independent, with broad experience and industry expertise. Natura &Co’s 10 other members of its Board of Directors will be the current Board of Directors of Natura Cosmeticos.
Chan Galbato, Non-Executive Chairman of Avon said: “It was a pleasure being part of Avon Products, Inc. in such a transformative time for the company. We have been focused on delivering the best representative experience, improving our cost structure, increasing financial flexibility, and ultimately Opening Up Avon, positioning the company for long-term growth and success. The Board is confident that the combination with Natura represents a huge opportunity for all stakeholders.”
Roberto Marques, Executive Chairman of Natura &Co declared: “With today’s announcement, we are taking another decisive step to bring together four iconic beauty companies, united by a better way of living and doing business. I am delighted to welcome the new members of the Board to the Natura &Co family, and I am sure their broad experience and deep knowledge of Avon will empower our entrepreneurs and associates while helping to grow our high-touch, high-tech direct to consumer businesses. It will be a pleasure to work with such a talented and diverse team to drive further sustainable growth.”
The new directors are:
- Nancy Killefer, who served as a Senior Partner at McKinsey & Company, an international management consulting firm, until her retirement in August 2013. She joined McKinsey in 1979, where she held a number of leadership roles and has been a member of Avon’s Board since 2013.
- Andrew G. McMaster, Jr., who served as Deputy CEO and Vice Chairman at Deloitte & Touche LLP from 2002 until his retirement in May 2015. He has been the Chair of the Audit Committee of the Avon Products, Inc. Board since 2018.
- W. Don Cornwell, former Chairman and CEO of Granite Broadcasting Corporation, who joined Avon’s Board of Directors in 2002. Previously, Mr. Cornwell was Chief Operating Officer for the Corporate Finance Department at Goldman, Sachs & Co.
About Natura &Co
Natura &Co is a global purpose-driven, multi-channel and multi-brand cosmetics group that is home to Natura, Aesop and The Body Shop, each a trailblazer in the beauty industry. Natura &Co posted net revenues of R$ 13.4 billion in 2018. The three companies are unique in mission and spirit but connected by a common goal of shaping a better world through positive economic, social and environmental impact. Founded in 1969, Natura is a leading Brazilian multinational brand in the cosmetics and personal care sector, and the leader in direct sales. For the past eight years, Natura has been recognized as one of the most ethical companies in the world by Ethisphere Institute, the global leader in defining and developing ethical standards for business conduct. Founded in 1976 by Dame Anita Roddick, in Brighton, England, The Body Shop was created with a vision of being a force for social and environmental good. The Australian beauty brand, Aesop, was founded in 1987 with a passion for design, literature, and meticulous attention to detail, efficacy and sensory pleasure.
For more information: https://naturaeco.com
About Avon Products Inc.
For more than 130 years Avon has stood for women: providing innovative, quality beauty products that are primarily sold to women, through women. Millions of independent sales Representatives across the world sell iconic Avon brands such as Avon Color and ANEW through their social networks, building their own beauty businesses on a full- or part-time basis. Avon supports women’s empowerment, entrepreneurship and well-being and has donated over $1 billion to women’s causes through Avon and the Avon Foundation.
For more information: https://www.avonworldwide.com
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