// Revolution Beauty’s founder and chief executive Adam Minto has resigned from the business with immediate effect
// Minto quit as the retailer continues with an independent investigation after concerns with audits over its accounts
Revolution Beauty’s founder and chief executive Adam Minto has resigned as director with immediate effect and is stepping down from the online beauty business completely.
Minto voluntarily stepped down last month while an independent investigation was carried out into audit failures at the business.
The company called in the investigators in September after auditors continued to flag “serious concerns” over its inability to publish an audit report for the latest financial year amid its transition from a private to public company.
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His departure was “a result of the events since IPO and the transition from a private company to a public company,” the board said.
Minto said he will “he will continue to support the investigation through to its conclusion.”
Revolution will continue to be run by chief operating officer Bob Holt, who has been responsible for the day-to-day management since 14 October when Minto stepped away.
Law firm Macfarlanes LLP and consultants Forensic Risk Alliance were appointed to manage the independent investigation.
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