PRIMARK CEO PAUL MARCHANT RESIGNS FOLLOWING ‘ERROR OF JUDGEMENT’

A statement from fast fashion chain Primark said that following an internal investigation, it concluded that the CEO of the company, Paul Marchant, should resign. The statement went on to say, “Paul Marchant acknowledged his error of judgement and accepts that his actions fell below the standards expected by the company. He has now made an apology to the individual concerned and to his Primark colleagues.” The error mentioned was in regard to his behavior towards a female staffer.

For the past 15 years, Marchant has helmed the company, which has annual revenue in excess of $18 billion from 450 stores across 17 countries. During Marchant’s tenure at the company, he oversaw the near doubling of the brand’s global footprint.

CEO George Weston of parent company AB Foods said in a statement, “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.”

AB Foods will temporarily elevate its finance director, Eoin Tonge, to acting Primark CEO while a replacement is vetted. Joana Edward will move into Tonge’s position as finance director of the company.