TED BAKER CEO Ray Kelvin has resigned with immediate effect following allegations of misconduct.
Kelvin took a voluntary leave of absence from his role in December 2018 after the allegations were made against him.
Since that date, an internal independent committee has been investigating the claims.
Kelvin has denied all allegations of misconduct.
He has, however, today agreed to resign with immediate effect from his position as CEO and director of Ted Baker.
The investigation will continue, with the primary focus of the remainder of it being on the company’s policies, procedures and handling of complaints.
It is expected that Herbert Smith Freehills LLP, the law firm commissioned to conduct the investigation, will conclude its inquiry at the end of Q1 or early Q2 2019.
Acting CEO Lindsay Page has agreed to continue in the role.
The board has asked David Bernstein to act as executive chairman to provide additional support to Page. Bernstein has indicated that he will continue in the position until no later than 30 November 2020.
“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,” Bernstein said in a statement.
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 all employees feel respected and valued,” Bernstein said.
“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.”
To embed this post, copy the code below on your site
have your say