Source - LSE Regulatory
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

The Life Ready Group Limited

Schoolready Ltd

ECPee Limited

 

Science in Sport plc

SIS (Science in Sport) Ltd

PhD Nutrition 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

Elizabeth Lake, Chief Financial Officer

 

www.revolutionbeautyplc.com

 

Zeus

(Nominated Adviser & Broker)


Investment Banking

 

Nick Cowles / Jamie Peel / Jordan Warburton

Tel: +44 (0) 161 831 1512

Equity Capital Markets

Tel: +44 (0) 20 3829 5000

Dominic King / Ben Robertson

www.zeuscapital.co.uk

 

Media enquiries:

Headland Consultancy                                                                  

Rosh Field / Will Smith / Marta Parry-Jones

 

Tel: +44 (0)7872 350428

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 -

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
BOAEAFSFFDAAEAA
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJBell logo

Related Charts

Revolution Beauty Group PLC (REVB)

+0.32p (+1.06%)
delayed 09:38AM