TIDMREVB
RNS Number : 9408K
Revolution Beauty Group PLC
31 August 2023
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
For immediate release 31 August 2023
REVOLUTION BEAUTY GROUP PLC
("Revolution Beauty", the "Group" or the "Company")
Directorate Changes
Lauren Brindley to be appointed Group Chief Executive
Officer
Colin Henry and Chris Fry appointed Independent Non-Executive
Directors
Revolution Beauty Group plc (AIM: REVB), the multi-channel mass
beauty innovator, is pleased to announce the appointment of Lauren
Brindley as Group Chief Executive Officer ("CEO") effective on 18
September 2023, and the immediate appointment of Colin Henry and
Chris Fry as Independent Non-Executive Directors of the Group.
Appointment of Lauren Brindley as CEO
Lauren Brindley will join the Board as CEO on 18 September 2023,
replacing Bob Holt, who as previously announced, will stand down as
CEO and leave the business today. Alistair McGeorge will move to
the role of Non-Executive Chairman on Lauren's appointment.
Lauren brings a wealth of experience in senior management roles
in mass consumer businesses specialising in the Beauty &
Personal Care categories. She will be accountable for leading the
Group globally, delivering strategic growth, and creating long-term
shareholder value.
Lauren was most recently the Group Vice President for Beauty
& Personal Care at Walgreens where she was accountable for the
American retailer's beauty and personal care strategy and financial
delivery across all 9,000+ stores and digital channels. During her
tenure at Walgreens, she built a multi-year, multi-stage strategy
to elevate and differentiate the business's approach to omnichannel
beauty retailing, leading to a positive upswing in its performance
in the segment.
Prior to Walgreens, Lauren was at Boots UK and Boots Retail
International, where she served in various roles including Head of
Prestige Beauty & Fragrance and Head of the No.7 Beauty Brand
& Mass Beauty categories, where she led the brand's
repositioning strategy. Lauren also served as Country Manager for
the business's Southeast Asian operations. Lauren began her career
at Tesco UK serving in multiple roles within Marketing and
Merchandising.
Alistair McGeorge, Executive Chairman, said:
"We are pleased that Lauren will be joining Revolution Beauty at
such a critical and exciting time for the Group. Lauren's extensive
knowledge of the beauty and retail industries, and proven track
record of driving meaningful results, will be critical as we build
Revolution Beauty into a global beauty leader.
"I would also like to thank Bob Holt for his contribution during
his time as CEO. His work in introducing new protocols across the
business and overseeing the lifting of the suspension in trading of
the Group's shares means that we are in a good position to pursue
the next stage of growth."
Lauren Brindley, incoming Chief Executive Officer,
commented:
"I'm thrilled to be joining Revolution Beauty at such a pivotal
moment for the Group. Revolution Beauty is recognised as one of the
fastest product innovators in the sector and the brand has already
proven it has global potential. I am excited to join the Revolution
Beauty team and bring this amazing brand and our innovative
products to consumers across the globe."
Appointment of Colin Henry and Chris Fry as Independent
Non-Executive Directors
The Company is also pleased to announce the appointment of Colin
Henry and Chris Fry as Independent Non-Executive Directors of the
Group.
They will replace Jeremy Schwartz, Rachel Maguire and Matthew
Eatough, who informed the Board that as they are not standing for
re-election at the AGM, they are resigning their positions as
Independent Non-Executive Directors and stepping down from the
Board. Colin and Chris were identified following a search led by
the Nomination Committee, and these changes take effect from
today.
Colin brings over 30 years' experience in multinational retail
businesses having previously held senior roles at Marks &
Spencer PLC, Polo Ralph Lauren, Nike / Umbro, Jaeger, and New Look.
Colin is an experienced Senior Advisor and Executive Director with
a global perspective and international experience. He comes with a
proven track record for delivering results in both luxury and mass
markets, with a passion for brand, design, and omnichannel
retail.
Chris is an accomplished executive with more than 30 years of
finance and commercial experience. Chris began his career at PwC
where he qualified as a chartered accountant, before later serving
as a Senior Partner and Head of KPMG's Liverpool office. Currently
serving as Chief Financial Officer of FinTech company BankiFi,
Chris has advised numerous listed and private companies in board
positions across a variety of commercial sectors.
Alistair McGeorge, Executive Chairman, said:
"Colin and Chris both bring with them highly relevant experience
that will benefit the Group and its future. I am very pleased to
welcome them to the Board.
"I would also like to take this opportunity to thank Jeremy,
Matthew and Rachel for their contribution to the business."
Lauren, Colin, and Chris currently hold no shares in the
Company.
The following information regarding the appointment of Lauren
Elizabeth Brindley, aged 44, is disclosed under Schedule Two,
paragraph (g) (i)-(viii) of the AIM Rules for Companies:
Current directorships and partnerships:
Indu Cosmetics Ltd
The following information regarding the appointment of Colin
Glen Henry, aged 58, is disclosed under Schedule Two, paragraph (g)
(i)-(viii) of the AIM Rules for Companies:
Current directorships and partnerships:
East Imperial Plc
Silverwells Consultants Limited
In addition, Colin has held the following directorships in the
past five years:
St George's Drive SW1 Ltd
The following information regarding the appointment of
Christopher Ramon Fry, aged 60, is disclosed under Schedule Two,
paragraph (g) (i)-(viii) of the AIM Rules for Companies:
Current directorships and partnerships:
Less Admin US Inc
Less Admin Limited
BankiFi Technology Ltd
CCF Business Services Limited
In addition, Chris has held the following directorships in the
past five years:
Liverpool City Region Growth Company (Holdco) Limited
Liverpool City Region Growth Company Limited
The Contact Company Ltd
The Contact Specialists Ltd
Tower Wharf Ltd
Buxton Arts Festival Limited
For further information please contact:
Investor Relations Investor.Relations@revolutionbeautyplc.com
Elizabeth Lake
Joint Corporate Brokers
Zeus (NOMAD): Nick Cowles /Jamie Tel: +44 (0) 161 831 1512
Peel /Jordan Warburton Tel: +44 (0) 203 100 2222
Liberum: Clayton Bush / Edward
Thomas / Miquela Bezuidenhoudt
Media enquiries Tel: +44 (0)20 3805 4822
Headland Consultancy Revolutionbeauty@headlandconsultancy.com
Matt Denham / Will Smith / Antonia
Pollock
The person responsible for arranging the release of this
announcement on behalf of the Company is Elizabeth Lake, the Chief
Financial Officer of the Company.
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END
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August 31, 2023 03:32 ET (07:32 GMT)
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