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CEOWORLD magazine - Latest - Banking and Finance - Revolution Beauty Announces Settlement its Former CEO and Co-founder, Adam Minto

Banking and Finance

Revolution Beauty Announces Settlement its Former CEO and Co-founder, Adam Minto

Revolution Beauty

Revolution Beauty has made headlines with the announcement of a settlement reached with its former CEO and Co-founder, Adam Minto, concerning the events surrounding the delay in auditing the group’s FY22 results and the subsequent suspension of trading of its shares on AIM.

The terms of the agreement stipulate that Minto will pay the company approximately $3,7 million, disbursed over six annual installments. Additionally, both parties have agreed not to admit or accept liability.

Alistair McGeorge, the Non-Executive Chairman, expressed satisfaction with the resolution, stating that the company is delighted to have come to terms with Adam. This, coupled with the adjusted payment timetable finalized in December 2023 for the Medichem acquisition, enables the company to shift its attention to the future. He also shared his anticipation for an overview of the company’s strategy at the forthcoming Capital Markets Event scheduled for February 8, 2024.

 

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CEOWORLD magazine - Latest - Banking and Finance - Revolution Beauty Announces Settlement its Former CEO and Co-founder, Adam Minto
Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at anna@ceoworld.biz