Former THG boss joins Boohoo’s boardroom coup at Revolution Beauty
Earlier this week, the clothing brand announced it would vote against the reappointment of Bob Holt, Derek Zissman, and Elizabeth Lake at the upcoming AGM
Boohoo has furthered its attempted boardroom coup at Revolution Beauty with the announcement that former THG boss, Rachel Horsefield, will now be part of a future independent board appointment process.
Horsefield most recently worked as the CEO of Beauty at THG, and according to Boohoo, will bring significant e-commerce and beauty sector experience to the reconstituted board.
Earlier this week, the clothing brand, which currently owns 26.6% of Revolution Beauty, announced it would vote against the reappointment of Bob Holt, Derek Zissman, and Elizabeth Lake at the upcoming AGM on 27 June.
Instead, it said it was seeking to instead appoint ex-New Look boss Alistair McGeorge and Neil Catto as directors of the beauty business.
If appointed, 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.
Boohoo also requested that the existing board of Revolution does not proceed to appoint Rachel Maguire and Matthew Eatough as directors.
Following its latest announcement, Boohoo said: “Boohoo continues to strongly believe that a senior leadership team with the right retail, e-commerce and consumer brands experience is required to deliver value for all shareholders and take Revolution Beauty into its next phase, which must focus on growth.”
