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Former THG Beauty CEO joins Boohoo in boardroom coup at revolution beauty
https://www.whatjobs.com/news/united-kingdom/uk-business-news/former-thg-beauty-ceo-joins-boohoo-in-boardroom-coup-at-revolution-beauty
Boohoo has enlisted the expertise of former THG Beauty CEO, Rachel Horsefield, in its bid to replace the leadership team at Revolution Beauty, an online cosmetic retailer.
Boohoo stated Horsefield brings extensive experience and expertise in the beauty sector, making her a valuable addition to the Revolution Beauty board.
The company firmly believes that a senior leadership team with the right background in retail, ecommerce, and consumer brands is necessary to drive value for shareholders and steer Revolution Beauty towards its next phase, focused on growth.
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During her tenure at THG, Horsefield held various key roles, including CEO of beauty, head of ecommerce, and managing director of the prestige beauty division.
She also served as a board director from 2018 to 2020. Prior to THG, Horsefield held positions within the ecommerce department at Boots.
In response to Boohoo's attempt to take control of Revolution Beauty, the online retailer expressed strong opposition, branding it as "value-destructive, opportunistic, and self-serving."
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Boohoo revealed its intention to vote against the reappointment of Revolution Beauty's chief executive Bob Holt, chair Derek Zissman, and CFO Elizabeth Lake at the upcoming Annual General Meeting (AGM).
Revolution Beauty, which faced challenges including the suspension of its shares in November and a delay in its 2022 audited financial accounts due to accounting irregularities, argues that Boohoo's actions are not in the best interests of its shareholders.
As Boohoo seeks to replace Revolution Beauty's leadership team, the group will propose a postponement of the AGM scheduled for next Tuesday to a later date in July or August.
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