THE WHAT? The Founder of Revolution Beauty, Adam Minto has left the company with immediate effect, according to a report published by the Financial Times.

THE DETAILS Last month, the company announced that Minto and Executive Chair Tom Allsworth had stepped down from ‘day to day management’ of the company after an independent investigation was launched into the beauty brand’s accounts. That investigation is ongoing.

THE WHY? Minto’s departure is ‘a result of the events since IPO and the transition from a private company to a public company’, the Board said in a statement issued to the Financial Times. Minto could not be reached for comment by the Financial Times.