Revolution Beauty’s chief executive and chairman have been ousted in a boardroom coup led by the company’s major shareholder, Boohoo.
Bob Holt, chief executive, and Derek Zissman, chairman, have resigned from the board as part of a settlement agreement with the online fashion retailer.
Alistair McGeorge, the former executive chairman of New Look, will join the board as executive chairman, and Neil Catto, the former chief financial officer of Boohoo, will become a non-executive director at the company.
Boohoo, which owns 26.6 per cent of Revolution Beauty, has been calling for Holt and Zissman to be voted off the board, citing a lack of retail experience.
The online clothing retailer also wanted to remove Elizabeth Lake as chief financial officer and install its