Boohoo seeks greater control of Revolution Beauty in boardroom coup
Boohoo, which owns a 26.6% stake in Revolution Beauty, announced its intentions to vote against the reappointment of the beauty brand’s senior executives as it moves to take control of the struggling business.
In a statement released on the London Stock Exchange, the fashion retailer said it had “notified the board of Revolution Beauty of its intention to vote against the reappointment” of chief executive Bob Holt, chair Derek Zissman and chief financial officer Elizabeth Lake at the beauty brand’s upcoming annual general meeting on June 27.
In a boardroom coup, Boohoo said it will also call a separate general meeting to remove the top bosses and appoint Boohoo’s non-executive director Alistair McGeorge as interim executive chair and Boohoo’s former financial officer Neil Catto as chief financial officer of Revolution Beauty respectively.
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