In the Footsteps of Change
September 2025
A Conversation With Sarah Bonadio
Economics of Mutuality Practitioner Stories
Sarah Bonadio has spent nearly two decades building a career at the intersection of corporate affairs, sustainability, and societal impact. Today, she serves in a global leadership role at Alpargatas, the Brazilian multinational best known as the owner of Havaianas, the iconic flip-flops brand. From this position, she is helping to shape how one of Brazil’s most recognized companies connects business success with positive social and environmental impact.
Building a Career in Corporate Affairs
Sarah began her career in institutional relations and public policy, gradually expanding her expertise to reputation management, sustainability, and corporate responsibility.
“I've spent my career in corporate affairs, with a strong focus on institutional relations and public policy, and reputation management overall,” she explains. Over the past 17 years, her work across different countries and cultures has provided a very solid understanding of how global organizations operate in different cultural and regulatory contexts.
At Alpargatas, Sarah now leads sustainability, corporate responsibility, corporate communication, and public affairs. For her, the work is not just about protecting reputation — it is about shaping the company’s role in society.
“What really drives me is connecting business strategy with societal impact, making sure companies and teams create value, not just for shareholders… but also, and mostly, for people and communities.”
A Brazilian Lens on Sustainability
Brazil’s sustainability landscape is one of movement and transformation, and Sarah sees the country as a laboratory for testing new ideas in corporate responsibility. She notes that businesses cannot afford to stand still: social, environmental, and regulatory pressures are converging in ways that demand agility and authenticity.
Her experience in both local and global roles has given her insight into how companies like Alpargatas can balance global expectations with regional realities. This balance, she believes, is critical for embedding sustainability at the heart of corporate strategy.
Interacting Forces
A pivotal moment in Sarah’s recent journey was completing Leading With Purpose, the Economics of Mutuality executive education program. She was drawn to the course by a desire to connect the dots between business, government, and society.
“I've always been curious about getting the dots connected in this, sometimes, complex space where we have public institutions, the private sector, and society,” she reflects. “I wanted to better understand how these forces interact — and how companies can act as agents of positive change.”
The program offered Sarah not only frameworks but also community. “The course brought together people from so many sectors and countries. Listening to their perspectives helped me see my own work differently.”
Sustainability Beyond Compliance
For Sarah, the role of companies in society is clear: they must go beyond compliance and profit-making to become engines of shared value. This requires courage, innovation, and long-term thinking.
“As leaders, we have the responsibility to connect strategy with societal value. It’s not enough to deliver financial results. The true measure of success is the impact we have on communities and people’s lives.”
Her work at Alpargatas — the company behind Havaianas — is anchored in this conviction. Whether navigating regulatory challenges, shaping corporate communication, or driving sustainability programs, Sarah emphasizes the importance of aligning business purpose with societal needs.
Reimagining the Role of Companies
Sarah’s career illustrates how corporate affairs can serve as a bridge between business and society. By combining a deep understanding of global operations with a passion for sustainability and responsibility, she is helping to reimagine the role of companies in Brazil and beyond.
Her journey also highlights the power of continuous learning. The Economics of Mutuality program provided not just knowledge but also inspiration and community — reinforcing her belief that purposeful leadership is essential for building resilient, impactful businesses.
As Sarah puts it: “Companies have the power — and the duty — to create value for more than just shareholders. We must build strategies that work for people and communities, not just balance sheets.”
Are you a leader with a deep conviction that business should be a force for good? Our Leading With Purpose executive education program could for you.
Delivered online over 9-weeks, the course is grounded in the practical Economics of Mutuality operating model, which has been developed with leading companies and universities including Mars and Oxford University’s Saïd Business School.
Since its inception, it has helped over 500 senior business leaders and investors integrate social and environmental impact into their core business strategy.
Program dates: October 1 – December 3
