SAO PAULO, March 20 (Reuters) - Brazilian cosmetic group

Natura announced on Thursday a leadership shake up as well as a

restructuring proposal that would change out the entity that is

listed on the local stock exchange.

Under the plan, set to be voted on by shareholders on

April 25, the currently listed holding company Natura&Co

will be integrated into its Natura Cosmeticos

subsidiary, which would then become the group's parent firm with

shares listed on Brazil's stock exchange.

The revamp should lead to a more efficient structure while

providing shareholders with value by "enabling a future

distribution of Natura Cosmeticos's profits," Natura&Co and

Natura Cosmeticos said in a joint securities filing.

Natura&Co's Chief Executive Officer Fabio Barbosa and

Chief Financial Officer Guilherme Castellan will leave their

roles, and Barbosa will be named chairman of the new parent

firm, while Castellan is leaving the group.

Joao Paulo Ferreira will retain his post as Natura

Cosmeticos CEO, as will Silvia Vilas Boas as CFO. Under the

proposal, both would then lead the parent firm of the group,

instead of what has been a unit.

Castellan is set to help with the leadership transition

until May 12.