founder returns as CEO, scraps sale plans
22/08/2025 08:36
** British makeup and hair care company Revolution Beauty REVB.L shares rise 10.4% to 3.86p ** Shares had plummeted 98.3% as of last close from all-time high of 173p in August 2021 ** Co abandons plans for sale, co-founder Tom Allsworth to return as CEO to lead a turnaround strategy focusing on cost cuts, equity injections and new licensing deals ** Announces 15 million pounds ($20.09 million) equity fundraise ** Posts preliminary FY adj. pretax loss of 5.5 mln pounds vs 4.3 mln pounds profit last year ** YTD, REVB shares down 74.58% ($1 = 0.7466 pounds) (Reporting by Unnamalai L in Bengaluru) ((Unnamalai.L@thomsonreuters.com;))