Primark chief executive resigns following investigation into his behaviour
Associated British Foods has announced that Primark chief executive Paul Marchant has resigned with immediate effect following an investigation into his behaviour.
Initiated by ABF and carried out by external lawyers, the investigation was carried out after an allegation made by an individual about his behaviour towards her in a social environment.
In a statement, ABF said: “Paul Marchant cooperated with the investigation, acknowledged his error of judgement and accepts that his actions fell below the standards expected by ABF. He has made an apology to the individual concerned, the ABF board and also to his Primark colleagues and others connected to the business.”
Eoin Tonge, ABF finance director, will be taking on the role of Primark chief executive on an interim basis while working with the retailer’s senior management team and strategic advisory board.
Meanwhile, Joana Edwards, ABF group financial controller, will act as interim ABF finance director.
George Weston, chief executive of ABF, said: “I am immensely disappointed. At ABF, we believe that high standards of integrity are essential. Acting responsibly is the only way to build and manage a business over the long term. Colleagues and others must be treated with respect and dignity. Our culture has to be, and is, bigger than any one individual.”
