Body Shop, the eco-friendly retail cosmetic group, this week announced what some may regard as a cosmetic overhaul of its management structure in the face of investor disenchantment and a quasi rebellion among some loss-making American franchisees. The formidable Anita Roddick, founder, pioneer of ethical consumerism and driving force behind the group for the past 22 years, voluntarily steps aside as chief executive in favour of newcomer Patrick Gournay, a Frenchman currently heading up the American division of the Groupe Danone food conglomerate. Ms Roddick, however, may well remain a power behind the throne, becoming co-chairman with her husband Gordon. Offically Ms Roddick will continue to influence the development of Body Shop "in a creative role, giving interviews, networking, developing products and store designs ".

Analysts, who had feared that the group was sliding towards a quagmire similar to that of Laura Ashley, were relieved at the reshuffle. One pithily remarked that "she has been trying to spread east, west, north and south - and has not been able to manage it ".

Results this week show annual group pre-tax profits of £38 million, up from £32 million previously. Turnover improved from £106 million to £116 million. shareholder pick up a total dividend of 5.6p a share, up from 4.7p last time. The shares, which six years ago topped 300p, now languish at around 120p.