Ted Baker founder quits amid ongoing misconduct investigation
Ted Baker founder and chief executive officer Ray Kelvin has tendered his resignation with immediate effect amid an ongoing investigation into allegations of misconduct, while still protesting his innocence.
Ted Baker founder quits amid misconduct investigation
Kelvin took a voluntary leave of absence in December when the allegations first came to light, handing a free rein to an internal independent committee to check the veracity of the claims. As part of this process, it had also tasked lawyers at Herbert Smith Freehills to establish the claims.
Acting chief executive Lindsay Page will continue in the role, supported by David Bernstein as executive chairman.
Executive chairman David Bernstein remarked: "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.”
Amid the drama, Ted Baker has vowed to continue its investigation, with particular emphasis on the company’s policies, procedures and handling of HR-related complaints. The fashion brand will publish its findings no later than June 2019.
Kelvin's demise follows a string of high-profile chief executive departures at the likes of CBS, Nissan and WPP.
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