TIDMREVB
RNS Number : 1910L
Revolution Beauty Group PLC
12 May 2022
For Immediate Release 12th May 2022
REVOLUTION BEAUTY GROUP PLC
("Revolution Beauty", the "Group" or the "Company")
Change of CFO Announcement
Elizabeth Lake joins from Everyman Media Group
Andrew Clark, CFO, stepping down
Revolution Beauty Group plc (AIM: REVB), the multi-channel mass
beauty innovator, is pleased to announce the appointment of
Elizabeth Lake as Chief Financial Officer, replacing Andrew Clark,
who is announcing his intention to step-down. To ensure a smooth
transition, Andrew will remain with the business until the end of
July.
Elizabeth is an accomplished executive with more than 25 years
of finance and commercial experience. She joins from AIM listed,
Everyman Media Group, where she has been CFO since 2019. During her
time at Everyman, Elizabeth successfully led the company through
the challenges presented by the Covid 19 pandemic, demonstrating
her ability to navigate uncertainty with strong financial and
operational acumen.
Prior to Everyman, Elizabeth was Chief Financial Officer at AIM
listed, Science in Sport, and before that finance director at Hugo
Boss UK and Ireland. She brings to Revolution Beauty extensive UK
plc experience having also worked in finance roles at Marks and
Spencer, Pearson and Thomson Reuters. Elizabeth is ACA qualified
having trained at Coopers and Lybrand (now known as PWC).
Adam Minto, Group CEO, commented:
" Elizabeth is a highly experienced executive, and we are
delighted to welcome her to Team Revolution as our new CFO. She has
worked across some of the UK's top consumer and retail brands, and
brings a deep understanding of the wider industry, as well as a
strong track record leading the finance function at UK PLCs. I look
forward to working together as we execute Revolution's strategy and
continue to grow our market share around the world, while
delivering meaningful shareholder value.
"I would like to thank Andrew for his fantastic contribution to
Revolution Beauty over the last 3 years, including successfully
navigating us through our IPO last year. On behalf of the Board and
everyone at Revolution, we wish him all the best for the
future."
Elizabeth Lake, incoming CFO commented:
"Revolution Beauty is a fantastic business. Team Revolution have
delivered impressive growth and a clear strategy to further expand
the business. Following recent acquisitions, and within a
burgeoning global mass beauty market, Revolution Beauty's
opportunity is bigger than ever, and I look forward to working with
Adam and the team to continue to drive the business' growth."
Andrew Clark, outgoing CFO commented:
"I have thoroughly enjoyed my time as Revolution CFO, and am
proud of the growth we have delivered, the completion of our first
acquisitions, and of course our successful IPO from last summer.
After what has been an incredibly busy few years, I feel that this
is the right time for me to step down and take some time out ahead
of taking on a new challenge. I wish Elizabeth all the very best in
her new role, and wish Adam, the Board and all my Team Revolution
colleagues every possible success for the future"
Further information relating to Elizabeth Lake
In accordance with Schedule 2(g) of the AIM rules, Elizabeth
Janet Lake (aged 54) holds or has held in the past five years the
following directorships and partnerships:
Current directorships Past directorships held within
last 5 years
108 Editions Ltd Science in Sport plc
The Life Ready Group Limited SIS (Science in Sport) Ltd
Schoolready Ltd PhD Nutrition Limited
ECPee Limited Sis (APAC) Pty Limited
Science in Sport (Italy) Srl
Science in Sport Inc
Everyman Media Holdings Limited
Everyman Media Limited
Everyman Media Group plc
---------------------------------
Elizabeth holds no shares in the Company.
For further information:
Revolution Beauty Group plc
Adam Minto, Founder & CEO
Tom Allsworth, Founder & Executive
Chairman www.revolutionbeautyplc.com
E lizabeth Lake, Chief Financial
Officer
Zeus
(Nominated Adviser & Broker)
Investment Banking
Nick Cowles / Jamie Peel / Jordan Tel: +44 (0) 161 831 1512
Warburton
Equity Capital Markets Tel: +44 (0) 20 3829 5000
Dominic King / Ben Robertson www.zeuscapital.co.uk
Media enquiries:
Headland Consultancy Tel: +44 (0)7872 350428
Rosh Field / Will Smith / Marta Parry-Jones Tel: +44 (0)7884 742400
Revolutionbeauty@headlandconsultancy.com
About Revolution Beauty
Revolution Beauty is a global mass beauty and personal care
business which operates a multi brand, multi category strategy and
sells its products both direct-to-consumer (DTC) via its e-commerce
operations, and in physical and digital retailers through wholesale
relationships.
Today, the Group has a retail footprint of c.15,000 doors across
leading retail chains in the UK, USA and other international
markets. Revolution Beauty has access to a wide customer base,
predominantly aged between 16 and 35, through its digital partners
and own DTC platform. It has established and invested to streamline
its supply chain with its own manufacturing facility in the UK, and
third-party warehousing facilities across the UK, USA and
Australia. The Group has offices in the UK, USA, New Zealand and
Germany. Revolution Beauty currently employs 411 people.
The total mass beauty market was worth $219bn in 2019 and is
expected to grow to $274bn over the next 3 years, driven by a new
marketing era dominated by Social Media and influencers. Revolution
Beauty has been a leading innovator building a significant global
following across social channels, enabling it to spot trends and
respond quickly to consumer demand.
Revolution Beauty strategy
Revolution Beauty Group is disrupting the traditional beauty
market through products that are more accessible to more people.
Through its digital-first strategy, Revolution Beauty brings
trend-led products to market faster than competitors. We invest in
innovative marketing strategies designed to appeal to a wider
audience, and offer products combining quality, inclusivity,
innovation and affordability.
- Ends -
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