The CEO of Revolution Beauty Group plc is to depart for a new role in the United States.
Lauren Brindley took the reins in September 2023 after Bob Holt OBE was effectively forced out of the role by shareholder Boohoo Group plc following months of boardroom battles.
Revolution, which floated in July 2021 with valuation of almost £500m but is worth around £32m today, has undergone a difficult transformation.
It reached a settlement with former CEO and co-founder Adam Minto last year, who agreed to pay the sum of £2.9m to the cosmetics brand after it accused him of breaching his fiduciary duties to the company.
Earlier this year it then entered into a confidential settlement with Chrysalis Investments – which had threatened legal action – despite strongly contesting the claims made against it.
Against this backdrop, Brindley has decided to depart for the role of chief merchandising and digital officer at Ulta Beauty, Inc., the largest beauty retailer in the US.
She will step down as group CEO and as a member of the board on 31st May 2025.
Colin Henry will become interim CEO. Colin has been a non-executive director of Revolution Beauty since August 2023, and has over 35 years of consumer goods and retail experience having held leadership roles at Jaeger, Espirit, Nike, Umbro, Polo Ralph Lauren and M&S. He is currently a NED at New Look.
A process to find a permanent CEO has now commenced.
“It has been a privilege to lead Revolution Beauty and our brilliant team,” said Brindley. “This is a business with unique capabilities, a loyal customer base and now a compelling strategy for future growth.
“I am confident that the focus on the masterbrand and our core portfolio of products will continue to deliver benefits and I look forward to following the group’s success in the future.”
Alistair McGeorge, chairman, commented: “On behalf of the board, I would like to thank Lauren for her considerable contribution to Revolution Beauty. We now have a clear strategy, a stronger management team, more efficient operations, and a sustainable financial model.
“Lauren leaves the group well-placed for future success and we wish her all the best in her new role.
“Colin’s time on the board, which played a key role in defining the group’s new strategy, and his significant sector experience mean he is very well suited to take up the position of interim CEO.”