Revolution Beauty CEO may quit as part of Boohoo ceasefire agreement

Holt joined the beauty retailer eight months ago and may quit his role as chief executive as part of an agreement between the two parties.

Sky News reported that Holt’s resignation may be one of the key elements of a compromise between the companies, after Boohoo proposed to appoint its former executives to the board of the beauty retailer and vote against the re-election of more than half of Revolution Beauty’s senior management team.

Both Boohoo and Revolution Beauty declined to comment. However, Retail Week understands that any formal compromise is yet to be and the result of the talks between the retailers remains inconclusive.

Revolution Beauty said yesterday it was close to reaching a compromise with its largest shareholder in the coming days and called for a requisition meeting on August 7. 

The beauty retailer reiterated its advice to shareholders to vote against all the resolutions proposed by the fashion brand.