Anita Roddick, ethical entrepreneur famous for founding The Body Shop, could be close to selling her stake in the beauty chain.

Ms Roddick is reported to have called a board meeting to discuss the move this week.

Ms Roddick, from Littlehampton, founded her empire in the Seventies when she opened her first shop in Brighton.

In August she announced she was considering selling £100 million worth of shares to support charity projects around the world.

She said her husband Gordon, co-chairman of the company, was fully behind the idea.

She said: "I want to realise the dosh, then make it work. People say 'Give it all away?' as if you are mad. But you can't take it with you and you are a long time dead."

Ms Roddick and her husband own a 25 per cent stake in the group. Their joint share is valued at nearly £37 million on the stock market, which is around half what it was worth earlier in the year when Body Shop's share price was higher.

Money raised from a sale is likely to be used for a good cause, as Ms Roddick has said in the past she planned to give the sum to charity if she sold up.

A sale of the stake would also follow moves made over the last few years which have reduced her influence over the firm.

She has relinquished control of the company, stepping down as chief executive and moving into the joint position she currently occupies with her husband as chairman.

Relations with the Body Shop's management are also understood to have been strained.

But the move may not necessarily mean she cuts her ties with the chain altogether, as she is believed to be keen to remain involved.

A sale of the stake could however be the precursor to a takeover of the company, which has been seen as a target since purchase talks with Mexican firm Grupo Omnilife broke down in June.

No Body Shop spokesman was available for comment today.