Bill McGlashan resigns from E.L.F. Beauty board over ties to admissions scandal
E.L.F. Beauty Inc. said in a Friday filing that prominent Silicon Valley private-equity investor Bill McGlashan has resigned from the company's board of directors, effectively immediately. McGlashan, a founder and partner at TPG Growth, was charged earlier this week in the sweeping college admissions scandal, for allegedly trying to buy his son's way into the University of Southern California using a fake athlete profile. He was ousted from TPG. At E.L.F., Stephen Ellis, a managing partner at TPG, was appointed to the board. Shares of E.L.F. fell 0.7% in the extended session Friday after ending the regular session up 8.6%.
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