Revolution Beauty names Lake new CFO

By

Nigel TAYLOR

Published
May 12, 2022

UK-based multi-brand beauty retailer Revolution Beauty Group (RBG) has a new finance chief.

Elizabeth Lake, former finance director at Hugo Boss UK and Ireland, is set to replace Andrew Clark, who has announced his intention to step-down. 

Clark, who has been with the company for three years, “including successfully navigating us through our IPO last year”, will remain with the business until the end of July, “to ensure a smooth transition”, RBG said.

The mass beauty retailer described Lake as “an accomplished executive with more than 25 years' finance and commercial experience”. She joins from AIM-listed Everyman Media Group, where she has been CFO since 2019. She has also worked in a financial role at M&S.

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”, said RBG.

CEO Adam Minto added: “Elizabeth… 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.”

Lake added: “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.”

Last week, the UK-based firm’s update for fiscal year 2022 (ended 28 February), showed adjusted EBITDA jumped 73% to £22 million and sales rocketed 42% to £194 million, boosted by record sales in Q4.