THE WHAT? Natura &Co is looking to cut executive pay by 32 percent as part of a company overhaul that aims to increase investor trust, according to Bloomberg.
THE DETAILS According to a regulatory filing, the Brazilian beauty giant’s board suggested setting Senior Manager pay at approximately 78 million reais (US$15 million) for the 12 months starting in May.
This is down from the 115 million reais the prior year.
THE WHY? The remuneration reduction plan follows the unveiling of a corporate reorganization announced last year, with Natura &Co struggling with inflation and supply-chain problems, which affected the company’s Q4 net loss.
The company is also considering options such as the sale of hero brand AESOP as well as shrinking its board.
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