Last checked at 12 May 2022 07:00
For Immediate Release | 12th May 2022 |
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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
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Elizabeth holds no shares in the Company.
For further information:
Revolution Beauty Group plc |
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Adam Minto, Founder & CEO | ||
Tom Allsworth, Founder & Executive Chairman Elizabeth Lake, Chief Financial Officer |
www.revolutionbeautyplc.com | |
Zeus (Nominated Adviser & Broker) | ||
Investment Banking |
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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.
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