Revolution Beauty’s founder and chief executive Adam Minto has resigned from the business as it undergoes an investigation into its accounts.


Revolution Beauty’s shares were suspended on AIM in September

The beauty retailer confirmed that Minto, who stepped away from his day-to-day duties on October 14 when the investigation began, has now stepped down as a director with immediate effect.

Minto, who co-founded Revolution Beauty in 2014, said he would “continue to support the investigation through to its conclusion”.

The makeup brand’s shares were suspended on AIM in September when it failed to deliver audited results.

Its auditor BDO flagged several issues of “serious concern” prompting an independent investigation into its accounting, carried out by Forensic Risk Alliance and Macfarlanes.

Revolution Beauty said interim chief operating officer Bob Holt will remain in charge of the day-to-day running of the business.

The investigation is ongoing.