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UK-based Revolution Beauty’s Chief Executive Officer Bob Holt would quit the beauty products retailer if there is a settlement with top shareholder Boohoo over board changes, Sky News reported on Tuesday.
Boohoo had in late June urged the company to call for a general meeting to remove executives including Holt, CFO Elizabeth Lake and Chairman Derek Zissman from the board, a day after they were all re-appointed.
It was unclear whether Holt would resign immediately or step down when a successor was appointed, the Sky News report said.
Both the companies declined to comment. Holt did not immediately respond to a request for comment.
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The move comes a day after Revolution Beauty said it could reach a settlement with online retailer Boohoo “in the coming days,” ahead of a general meeting on August 7.
Reporting by Eva Mathews; Editing by Nivedita Bhattacharjee
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Revolution Beauty Says It Could Settle With Shareholder Boohoo in Coming Days
UK-based Revolution Beauty said on Monday it could reach a settlement with top shareholder Boohoo over board changes in the coming days, after the beauty products retailer said it will hold a general meeting on Aug. 7.