Ted Baker CEO quits, packs his bags with immediate effect
Ted Baker has been promising an update on its investigation into CEO Ray Kelvin’s behaviour for some months and on Monday it came. Kelvin has quit.
The company said he’s “resigned with immediate effect” having been on a leave of absence since December after allegations of misconduct were made against him.
Since that date, an internal independent committee has been in the process of investigating the allegations, but the company didn’t comment on any findings. It simply said that “Kelvin has denied all allegations of misconduct. He has, however, today agreed to resign” both as CEO and as a director of Ted Baker plc.
Acting CEO Lindsay Page will continue in the role with the board having “asked David Bernstein to act as executive chairman to provide additional support to Lindsay,” a role that will terminate no later than November 30 next year.
And the investigation? That will continue, with the "primary focus of the remainder of the investigation being on Ted Baker's policies, procedures and handling of complaints.”
Bernstein said: "Ray Kelvin founded the business 32 years ago and has, together with the fantastic team around him, been the driving force behind it becoming the global brand it is today. As founder and CEO, we are grateful for his tireless energy and vision. However, in light of the allegations made against him, Ray has decided that it is in the best interests of the company for him to resign so that the business can move forward under new leadership.
“As a board of directors, we are committed to ensuring that that all employees feel respected and valued. We are determined to learn lessons from what has happened and from what our employees have told us and to ensure that, while the many positive and unique aspects of Ted's culture are maintained, appropriate changes are made. Sharon Baylay has agreed to act as the designated non-executive director for engagement with the Ted workforce. Led by Lindsay, we are confident that the strong and experienced team we have in place will build the Ted culture and move the business forward."
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