Revolution Beauty Group PLC’s chief executive Adam Minto and executive chairman Tom Allsworth have temporarily stepped away from their roles to support the auditors investigating its full-year results.
Last month, the group reported it was unable to publish its results due to the auditors raising certain accounting issues, forcing its shares to be suspended from trading.
The makeup and skincare company said the voluntary decision to step away is not because of any matter arising from the independent investigation being carried out by Forensic Risk Alliance and Macfarlanes.
Minto and Allsworth will remain directors “but will not take part in any day-to-day decisions concerning the group until completion of the independent investigation”, the company said in a statement.
Bob Holt OBE will act as interim chief operating officer, pending the completion of the investigation to “provide leadership,” it said.
Holt most recently served as chairman of SureServe, Totally and Mears, and has experience of successfully turning companies around and seeing them through flotations, said Revolution.