The Body Shop CEO steps down as business looks to accelerate profitability - Indoors Beauty

The Body Shop CEO steps down as business looks to accelerate profitability

The Body Shop CEO steps down as business looks to accelerate profitability

The Body Shop CEO David Boynton has stepped down after virtually 5 and a half years on the business.

Since becoming a member of The Body Shop in 2017, Boynton has led business transformation following the model’s acquisition from L’Oréal. Prior to this, he served as CEO of Charles Tyrwhitt and held senior roles at L’Occitane and A.S Watson.

In a submit on LinkedIn, Boynton mentioned: “Looking again over the achievements of the final 5 years, it’s so rewarding to see that our merchandise at the moment are the perfect they’ve ever been, difficult the standard and efficiency of many luxurious manufacturers, however at a way more accessible worth and with higher sustainability.

“I’m leaving with actual confidence in the way forward for The Body Shop – there are robust foundations, a transparent, compelling plan and the expertise to ship that plan.”

Natura &Co Board Director Ian Bickley will substitute Boynton on an interim foundation as the wonder model searches for a everlasting successor. In this position, Bickley will work carefully with The Body Shop’s Executive Leadership Team to assist “refine the present business plan and transformation agenda, as effectively as accelerate profitability and return to sustainable income”.

Last month, Natura &Co reported a internet lack of £139 million for the fourth quarter. The Body Shop’s internet income decreased 8.4% in fixed foreign money and 20.6% in BRL to £235 million (BRL1.5 billion).

This drop in gross sales additionally extends to the opposite quarters within the 12 months, as internet income was down 19.5% in Q311.8% in Q2 and 16% in Q1, with The Body Shop attaching varied causes together with post-lockdown channel rebalancing to its lack of progress.

The announcement additionally follows the current acquisition of Aēsop by L’Oréal, opening a brand new chapter of the luxurious model’s progress story after 10 years underneath Natura & Co’s stewardship. The sale of Aēsop will enable Natura &Co to strengthen and deleverage its steadiness sheet, liberating up sources to concentrate on its strategic priorities, together with the development of The Body Shop’s business.

Read TheIndustry.trend’s characteristic on Will The Body Shop shine now Aēsop is out of the image?

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