Two extra Revolution Magnificence board members resign throughout accounting probe
Non-Govt Administrators Gita Samani and Edward Rumsey have stepped down, only one month after CEO Adam Minto resigned
Non-Govt Administrators Gita Samani and Edward Rumsey have resigned with rapid impact
Gita Samani and Edward Rumsey have each resigned as Non-Govt Administrators with rapid impact.
The quick magnificence retailer didn’t present a purpose for the duo’s departure.
Samani, Govt Vice President of Progress Technique at Astound Commerce, has served on Revolution Magnificence’s board since June 2021.
Rumsey, Managing Associate at Permian International and Particular Advisor at World Financial institution Group, has held his place with Revolution Magnificence since July 2021.
The corporate stated it should begin the method of appointing new Non-Govt board members in the end.
Cosmetics Enterprise has reached out to Revolution Magnificence for remark.
What’s going on at Revolution Magnificence?
This information comes after CEO Adam Minto revealed he was stepping down with rapid impact amid the corporate’s ongoing accounting probe.
Minto resigned on 9 November, after stepping away from his responsibilities a month earlier.
He has been replaced by Bob Holt, who was serving as Interim Chief Working Officer in the course of the adjustments.
The British skincare and make-up model halted its share trading on 1 September after it missed releasing remaining outcomes for the yr ended 28 February.
The corporate stated its failure to launch FY2022 outcomes was because of accounting points.
This prompted the group’s auditor BDO to order a probe in August.
The impartial investigation into the accounting failures is ongoing.
Revolution Magnificence was based in 2014 and sells hair, skincare and make-up merchandise.
Boohoo recently doubled its strategic investment in the company, making it the cosmetics group’s largest shareholder.
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