Revolution Beauty CEO Bob Holt would resign if a settlement is reached with Boohoo over board changes in the coming days.
Holt, who was fired and rehired at Revolution’s AGM last month, would leave his position as part of a compromise deal with its disgruntled shareholder, according to Sky News.
However, it has not been confirmed if the chief executive would leave immediately or when a successor took over.
The removal of Holt would form a key part of a peace deal between Boohoo and Revolution, although it is thought other aspects are currently being thrashed out.
He has been chief executive of Revolution for just eight months, joining the firm after the departure of its founder amid an accounting probe.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
In the past few weeks the beauty brand has been at war with the online fast fashion retailer, which has just under a 27% stake in Revolution.
Boohoo is attempting to replace the company’s board, including Holt, as it seeks to install its own management team at the helm.
It has proposed bringing in ex-New Look boss Alistair McGeorge and ex-Boohoo CFO Neil Catto.
However, after weeks of exchanging jabs, the beauty brand announced that a compromise between the pair could be days away.
Click here to sign up to Retail Gazette‘s free daily email newsletter
