Revolution Beauty Group PLC said chief executive officer Adam Minto has resigned as a director of the group and stepped down from the business with immediate effect, as a result of the events since its initial public offering (IPO) and the transition from a private company to a public company.
Minto last month stepped away from the day-to-day management of the business in order to support the independent investigation being carried out by Forensic Risk Alliance and Macfarlanes. He has stated that he will continue to support the investigation through to its conclusion.
In September, 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.
Bob Holt, who has been responsible for the day-to-day running of Revolution Beauty since Minto stepped aside, remains as interim chief operating officer, the company said.
It reiterated that the independent investigation being carried out by Forensic Risk Alliance and Macfarlanes remains ongoing, and no conclusions have been drawn.