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Boohoo to vote against Revolution Beauty board directors

By Prachi Singh

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Business

Credits: Image: Revolution Beauty, Facebook
Boohoo, the beneficial owner of approximately 26.6 percent stake of Revolution Beauty Group plc, has decided to vote against the reappointment of latter's board directors Bob Holt, Derek Zissman, and Elizabeth Lake at the upcoming AGM on June 27, 2023.

Boohoo will propose appointments of Alistair McGeorge and Neil Catto as directors on Revolution Beauty board.

As Revolution Beauty's biggest shareholder, Boohoo said in a release: “As Revolution Beauty transitions to its next phase, where the focus must switch to growth, Boohoo believes a senior leadership team with the right retail, e-commerce and consumer brands experience is required to deliver shareholder value.”

If appointed, Boohoo added to the statement, it is expected that McGeorge will serve as interim executive chairman and Catto as CFO of Revolution Beauty and that the reconstituted board will then undertake a rigorous process to appoint additional independent directors.

In light of this, Boohoo has also requested that the existing board of Revolution Beauty does not proceed to appoint Rachel Maguire and Matthew Eatough as directors.

McGeorge is currently the non-executive chairman of East Imperial plc and The Original Factory Shop, non-executive director of Boohoo, and chair of The Retail Trust, which provides support to retail employees. He has worked within the retail industry over the last 30 years and has been CEO and/or chairman of multiple retail brands in the UK and internationally. He is a qualified Chartered Accountant.

Catto, the company added, has significant UK plc experience and is currently a non-executive director of TinyBuild Inc., having been CFO of Boohoo from 2011 to 2022. He qualified as a chartered accountant with EY and spent nine years working in their Manchester, Palo Alto and Reading offices. He was previously finance director of Dabs.com plc and has held senior financial positions in BT plc and The Carphone Warehouse Group.

Alistair McGeorge
Beauty
Boohoo
Boohoo Group PLC
Neil Catto
Revolution Beauty