Britain-based fashion retailer Ted Baker has announced that its Chief Executive Officer Ray Kelvin resigned from his role amid an investigation of his ‘mis’conduct with employees.
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Previously, Kelvin had taken a voluntary leave in December 2018 as law firm Herbert Smith Freehills LLP initiated investigations against allegations including ‘unwanted’ hugs and asking female employees to ‘sit on his knee’.
Markedly, Kelvin owns about 35 percent of Ted Baker, and has a market value of about US $ 390 million.
Complaints against Kelvin’s conduct surfaced in a petition on the website, Organise.
The CEO has, however, refuted all the accusations against him.
Meanwhile, Lindsay Page has been handed over the CEO role.
David Bernstein will continue to support as Executive Chairman. He too will leave that role by 30 November 2020, the company stated.
The law firm’s investigation continues and is expected to conclude at the end of the first quarter or early in the second quarter, Ted Baker said.
