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Gloucestershire Business News

'Rescue specialist' turns his attention to Revolution Beauty

Former Mears chairman Bob Holt is looking to turn around the fortunes of another company.

Mr Holt stepped down from Gloucester-based Mears in 2018 after 23 years which saw him take the company from a minnow to one of the biggest businesses Gloucestershire has ever known.

Mr Holt is known as a turnaround specialist, having worked for SureServe Group as well as Mears.

He joined online cosmetics company Revolution Beauty as its interim chief executive in October and has now been given a permanent position.

According to The Times, Revolution Beauty is awaiting the outcome of an investigation into its finances by forensic accountants.

Revolution Beauty's three co-founders have been forced to step back from daily operations while forensic accountants investigate concerns raised by auditors in the summer.

The Times quoted Mr Holt as saying: "Over the past six weeks I have seen first hand the quality of people working at Revolution Beauty, the overall popularity of the brand and innovation of products for customers around the world."

He said he saw a huge opportunity for the business and was "confident that, together with the team, we will drive the business forward".

Revolution Beauty's shares have been suspended after the auditors refused to sign off the accounts because of a number of serious concerns.

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