THE WHAT? Boohoo has turned activist shareholder as it attempts to oust Revolution Beauty’s C-suite and replace them with its own candidates, according to a report published by the Financial Times.

THE DETAILS The British fast fashion retailer owns a 26.6 percent share in the mass market beauty brand and is calling on fellow shareholders to vote against the reappointment of Bob Holt to the role of CEO at the make-up company’s forthcoming AGM. If Boohoo gets its way, CFO Elizabeth Lake and Non-executive Chair, Derek Zissman will also get the boot.

THE WHY? Revolution Beauty has hit hard times since last September after its shares were suspended following its failure to deliver timely accounts. Boohoo told the Financial times that ‘the focus must switch to growth’ and ‘a senior leadership team with the right retail, ecommerce and consumer brands experience is required to deliver shareholder value’.