Former THG boss joins Boohoo’s attempted boardroom coup at Revolution Beauty
The former chief executive of a major division at THG has joined Boohoo’s attempted boardroom coup at Revolution Beauty.
Earlier this week, Manchester-headquartered fashion giant Boohoo launched a campaign to vote the chief executive, chief financial officer and chairman of Revolution Beauty off the board.
The group, which holds a stake of around 26.6% in the company, said it intends to vote against the reappointment of CEO Bob Holt, chairman Derek Zissman and CFO Elizabeth Lake at Revolution Beauty’s annual general meeting on June 27.
Boohoo also outlined plans to appoint two of its non-executive directors, Alistair McGeorge and Neil Catto, to Revolution Beauty’s board to become its new executive chairman and CFO respectively.
In addition, Boohoo requested that the existing board of Revolution Beauty does not proceed to appoint Rachel Maguire and Matthew Eatough as directors.
Now, Boohoo has revealed that it wants former THG Beauty CEO Rachel Horsefield to also join Revolution Beauty’s board.
Horsefield held her current role from 2017 until 2022 after first joining Manchester-headquartered THG in 2014. Prior to that, she worked at Boots.
Boohoo said: “Boohoo continues to strongly believe that a senior leadership team with the right retail, e-commerce and consumer brands experience is required to deliver value for all shareholders and take Revolution Beauty into its next phase, which must focus on growth.
Rachel will bring significant e-commerce and beauty sector experience to the reconstituted board.”
Boohoo first invested in Essex-based Revolution Beauty in August 2022 and further upped its stake in November last year. The company was founded by Adam Minto and Tom Allsworth in 2014. It launched on AIM in 2021.
