News: Avon CEO steps down as deal with Natura closes


Avon CEO steps down as deal with Natura closes

Roberto Marques, a veteran at Natura, has been named the Group CEO as Natura acquires Avon.
Avon CEO steps down as deal with Natura closes

Jan Zijderveld, CEO, Avon, stepped down amidst the completion of the company’s deal with Natura. Natura, the Brazilian personal care cosmetics manufacturer, as appointed Roberto Marques, Executive Chairman, as the Group CEO upon closing the acquisition deal of Avon. 

Zijderveld will be succeeded by Angela Cretu, who has been working for a long time with the London-headquartered cosmetics maker and most recently fulfilled her role as the General Manager of Avon’s Central Europe division. 

Cretu will be reporting to the Group CEO, i.e. Roberto Marques, along with the chief executives of other Natura-owned brands such as Aesop and The Body Shop, according to a Reuters report. 

Marques has been instrumental in guiding Natura for the last four years and its global expansion that also included acquiring The Body Shop in 2017. 

Now, Avon and Natura will together have more than 4,000 employees and 3,000 stories with a gross revenue of more than $10 Bn. 

As consumer preferences change, the demand for cosmetics also transforms as the door-to-door selling pioneer Avon found out. The buyout came at a time when the company was struggling to salvage its dipping sales.

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Topics: C-Suite, #MergersAndAcquisitions

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