names its new CEO<\/a><\/span>, Bob Holt, replacing founder Adam Minto who left last month, amid\u00a0an investigation into the business over its\u00a0failure to complete its auditing process quickly\u00a0enough.<\/p>\nThe independent investigation into\u00a0Revolution Beauty is still being carried out by Forensic Risk Alliance and Macfarlanes and no conclusions have yet been drawn.<\/p>\n
Boohoo Group said its latest investment \"builds upon the existing relationship between boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several of the Group's direct to consumer brand websites and its online digital department store, Debenhams. The investment reflects boohoo's belief in the growth potential of Revolution Beauty and it intends to be a supportive stakeholder and long-term partner.\"<\/p>\n
The move takes Boohoo's shareholding just under the threshold (30%) at which it would be obliged to make a formal bid for the entire company or make its long-term intentions clear, under Stock Market rules.<\/p>\n
Bob Holt has been acting as CEO at Revolution Beauty since Minto's departure. He has served as\u00a0CEO and Executive Chairman at a number of UK listed companies, including SureServe Group and Mears Group.<\/p>\n
He said of his appointment today:\u00a0\"Over the past six weeks I have seen first-hand the quality of people working at Revolution Beauty, the overall popularity of the brand and innovation of products for customers around the world. <\/span><\/p>\n\"I believe there is a huge opportunity for the business as it moves ahead and I am confident that, together with the team, we will drive the business forward.\"<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":11,"featured_media":194406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[3791,17331,18119],"acf":[],"yoast_head":"\n
Boohoo Group ups stake in Revolution Beauty to more than 25% - TheIndustry.fashion<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n