Natura (NATU3) announced the return of Alessandro Carlucci as chief executive officer, a position he held from 2005 to 2014. Carlucci will officially take office on October 1, replacing João Paulo Ferreira, who is leaving the company after ten years at the helm.
On Monday (31), the company’s shares rose as much as 9.04% during the session, closing flat at R$ 8.74. The transition between the executives will take place without interruption through the end of September, according to a company statement.
Carlucci’s experience and career
Alessandro Carlucci has 25 years of experience at Natura and had chaired the Board of Directors since April of this year, a post to which he was elected after returning as a director in 2025. To take over as chief executive, he resigned both as chairman and as a board member, in accordance with the company’s bylaws, which prohibit holding both positions.
The company highlights Carlucci’s deep knowledge of its business model, as well as his experience in consumer, retail and e-commerce sectors. The executive has served on the boards of companies such as Arezzo & Co., Lojas Renner and Avon International, and chaired the World Federation of Direct Selling Associations.
João Paulo Ferreira’s departure and financial context
João Paulo Ferreira ends his tenure after a decade marked by milestones such as the integration of Avon, expansion into Spanish-speaking markets, the digitalization of direct sales and the company’s transformation into a multichannel business. During his administration, Natura tripled its revenue and became the leader of the beauty market in Latin America.
However, Ferreira will leave amid recent difficulties. In the second quarter of 2026, net income fell 82% to R$ 35 million, and revenue in Brazil declined about 15% year over year. Supply and planning problems emerged after the rollout of a new enterprise resource planning system.
Outlook and governance structure
Itaú BBA believes Natura’s recovery will be gradual and notes that executing its strategies is the biggest challenge for investing in the company. With Carlucci’s appointment as CEO, Fábio Barbosa was once again elected chairman of the Board of Directors on August 29, pending ratification at the next General Meeting.
Barbosa was responsible for reorganizing Natura’s capital structure and had stepped down during the governance overhaul. The company says its strategic guidelines remain unchanged, with a continued focus on profitability, operational efficiency and capital allocation.
Market reaction and next steps
The market interpreted Carlucci’s return as an attempt to renew leadership without changing the current strategy. JPMorgan noted that the executive’s experience could strengthen execution, highlighting his role in Natura’s previous expansion cycles, in addition to reducing uncertainty about the company’s future direction.
Despite bringing back a former CEO, the company still faces the challenge of recovering sales in Brazil, stabilizing supply and turning its operational reorganization into sustainable growth and cash generation.
In the coming months, investors will be watching the executive transition, the performance of domestic revenue and the impact of the efficiency measures adopted. Confidence may rise with Carlucci’s return, but an actual recovery will depend on the new management’s ability to execute.
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