Ray Kelvin resigns as chief executive of Ted Baker
Fashion retailer Ted Baker has confirmed that its founder Ray Kelvin has resigned from his role of chief executive.
Kelvin took a voluntary leave of absence from the company in December following "forced hugging" claims, all of which he has denied. However, an investigation by law firm Herbert Smith Freehills into the allegations and the company's policies, procedures and handling of HR related complaints, has resulted in Kelvin agreeing to resign as chief executive and as a director of the business.
Ted Baker executive chairman David 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 chief executive, 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.”
Ted Baker’s acting chief executive Lindsay Page has agreed to continue in his role until a permanent successor to Kelvin is appointed. Meanwhile, Bernstein will act as executive chairman to provide additional support to Page until no later than 30 November 2020. In addition, Sharon Baylay has agreed to act as the designated non-executive director for engagement with the company’s workforce.
Today Ted Baker said the investigation will continue but with the main focus now being on the company’s policies, procedures and handling of complaints. It expects to complete the process by the end of its first quarter or early in the second quarter.
Bernstein added: “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.“
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