Revolution Beauty CEO and chairman to temporarily step away from day-to-day operations
Revolution Beauty Group
21.10p
16:34 07/01/25
Beauty and personal care products manufacturer Revolution Beauty said on Friday that chairman Tom Allsworth and chief executive Adam Minto had both agreed to step down from the day-to-day management of the group.
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Revolution Beauty stated that the pair had opted to step away from the group's operations for the time being in order to support an independent investigation into the group being carried out by Forensic Risk Alliance and Macfarlanes.
The AIM-listed group highlighted that Allsworth and Minto's decision to step away was not a result of any matter arising from the independent investigation but was more of an acknowledgment of the fact that the group required an operational leader that can "devote their full time and attention" to managing its business.
As a result of the duo temporarily stepping back from day-to-day involvement in the business, Revolution appointed former SureServe and Totally chairman Bob Holt as its interim chief operating officer. However, he will not be a director of the company and will report directly to the board.
As of 0950 BST, Revolution shares were up 11.11% at 19.0p.
Reporting by Iain Gilbert at Sharecast.com