As has been widely reported, Boohoo and Revolution Beauty’s (RB) stance has been at odds following the RB AGM at which Boohoo fired RB directors and attempted to replace them with its own people. This was then reversed leaving Boohoo with its 27 per cent stake in RB deeply chagrined.
It now emerges that there is a distinct possibility that Boohoo’s wishes may be satisfied in part and that incumbent RB CEO Adam Holt will leave the business as part of a compromise deal between the two factions. Holt has only been with the business for eight months, having joined after its founder & CEO departed under a cloud following accounting irregularities and the suspension of RB shares.
Boohoo had proposed to replace the entire RB board and draft in Alistair Mcgeorge and Neil Catto to succeed them.
The matter should be agreed, we understand, within a few days.
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