飞机盗号软件VIP破解技术|【唯一TG:@heimifeng8】|电报盗号系统全功能破解技术✨谷歌搜索留痕排名,史上最强SEO技术,20年谷歌SEO经验大佬✨Revolution Beauty AGM fails to oust board but key shareholder Boohoo demands big change
Nigel TAYLOR Published
June 28, 2025
As expected, there were fireworks at Revolution Beauty’s AGM this week with unhappy shareholder Boohoo Group continuing to call for radical change in the best interests of the business and Revolution’s ousted-then-reinstated leadership team saying it has the firm’s best interests at heart.
In dramatic fashion, at the AGM, three of its lead directors were initially voted out, leaving just one director, Jeremy Schwartz, in place.
But then, Schwartz chose to reappoint the three just-ousted directors — CEO Bob Holt, chairman Derek Zissman and finance director Elizabeth Lake — who will remain in their previous roles. Rachel Maguire and Matthew Eatough were also appointed as non-executive directors.
Despite Revolution unsuccessfully attempting to get the AGM postponed, it had gone ahead with the troubled multi-channel beauty retailer facing opposition from its biggest shareholder Boohoo Group. The fashion retail giant led the rebellion after it again raised “serious concerns” about the conduct of company’s board.
Boohoo, which owns around 26.6% of Revolution Beauty, was among the 74% of investors who initially voted to oust the company’s top team.
Boohoo continues to have “serious concerns” about the conduct of the company that was earlier hit by an accounting scandal, and is seeking to appoint its own candidates to run the company. It said on Wednesday it failed to see “how such a board can claim to be acting in the best interests of shareholders, and is instead self-serving, as demonstrated by its actions over the last 24 hours”.
Revolution Beauty responded by repeating that Boohoo’s actions were “nothing short of value-destructive, opportunistic and self-serving”.
Meanwhile, shares in the retailer began trading again on London’s junior AIM stock market Wednesday morning after they were suspended in September following an accounting probe, which found a raft of issues. They rose more than 50% against that final trading day but are still down over 99% in the past year.
A “delighted” Zissman said: “We believe that the restoration of liquidity is in the best interests of all of our shareholders.”
Revolution Beauty also warned: “Shareholders should be aware that Boohoo's actions, if they continue, are very likely to cause the accounts for the year ended 28 February 2025 to be significantly delayed and reminds shareholders that if the accounts for FY23 are not published by the end of August 2025, the company's shares would again be suspended from trading on AIM… a further suspension from AIM would also trigger a breach of the group's banking facility”.
However, Boohoo said Wednesday morning it “remains committed to wholesale board changes at Revolution Beauty and the appointment of a new, majority-independent board with the right balance of skills and experience and believes that it is of paramount importance that the future board of directors of Revolution Beauty have direct and relevant experience of dealing with its customers”.