Revolution Beauty picks former Walgreens exec as new boss
Revolution Beauty has narrowed its losses and appointed a new boss as it tries to put behind it historic issues and a spat with top shareholder Boohoo.
The cosmetics and beauty brand said it had appointed former Walgreens executive Lauren Brindley as group chief executive. She will take over from Bob Holt later this month.
It comes after the company came under intense pressure from Boohoo, which owns more than a quarter of the business’s shares, to shake up its leadership team.
The group also revealed that its pre-tax losses narrowed from £45.9 million to £33.9 million in the year to the end of February, compared with the previous year.
Its revenues edged up by 3.2 per cent year-on-year to £187.8 million, after rolling out new products in Boots in the UK and Walgreen in the US and seeing consumer demand hold up for its “affordable” products.
Revolution Beauty said the improved trading performance was achieved “during a period of significant and well-publicised upheaval”.
Press Association