The Body Shop Interim CEO exits as Aurelius completes takeover

The Body Shop’s Interim CEO Ian Bickley has exited the company following the completion of the brand’s sale to private equity firm Aurelius Group.

Bickley, a board member of former owner Natura & Co, stepped into the role in April 2023 and was tasked with stabilising the embattled beauty brand.

The British beauty heritage said he steered the business through the sale process, and now that it has been completed leadership is being handed over to Aurelius.

A new CEO will be appointed “in due course”, the brand added.

“The immediate focus of the leadership team will be on the separation from Natura & Co and continuing the transformation outlined last year,” The Body Shop said in a statement.

“The team will be getting deep into all aspects of the business, to develop a strong, long-term strategy, supported by the right structure and operating model.”

Natura & Co put the The Body Shop up for sale in September 2023, with investor Aurelius Group snapping it up for £207m two months later.

This was just a fifth of the price the Brazilian cosmetics giant paid for it in 2017, and came after six consecutive quarters of losses for The Body Shop.

Natura & Co attempted to limit the impact on its earnings by reducing the beauty brand’s leadership team by 25% and overall staff by 12% last year.

It also closed the retailer’s At-Home direct sales business in the US and dedicated distribution centre in the UK.

The Body Shop launched its new ‘Yes! Another vegan’ campaign in January 2024 .

The marketing effort promotes the business becoming the first global cosmetics retailer to achieve 100% vegan formulations across its entire product range.

The brand’s skin care, body care, hair care, make-up and fragrance offerings were fully certified by The Vegan Society, a registered charity, in December 2023.