Primark CEO moves after a request for inappropriate behavior

The CEO of a large, low -budget fashion retailer resigned after a woman has made an allegation of inappropriate behavior against him, according to the company.

According to a press release from the owner of Primark, Associated British Foods, Paul Marchant resigned from his boss, with immediate effect.

ABF launched an investigation, which was carried out by an external law firm after a woman has made an allegation concerning the behavior of Marchant in a social environment.

No other information on allegation has been given.

Marking cooperated with the investigation and “recognized his error of judgment,” said the statement.

According to the press release, walking accepted that his actions “fell below the standards expected by ABF” and apologized to the woman, his colleagues from Primrk and the Board of Directors of the ABF.

“As we are committed publicly, ABF seeks to provide a safe, respectful and inclusive work environment where all employees and third parties are processed with dignity and respect,” said the press release. “Primark undertakes to do business in the right way at all levels of the company.”

Marchant was Primark Managing Director since 2009. In the meantime, the ABF financial director, Eoin Tonge, will take charge of the role of Marchant.

“I am extremely disappointed,” said George Weston, Managing Director of ABF. “At ABF, we believe that high integrity standards are essential. Acting responsible is the only way to build and manage a long -term business. Colleagues and others must be treated with respect and dignity. Our culture must be and is, greater than any individual.”

ABF shares dropped up to 5% during morning negotiations in London after the departure of Marchant was shared. At 10:30 a.m., local time (5:30 a.m.), she got back to a loss of around 3%.

ABF founded Primark in 1969 in Dublin, where he is still negotiating under his original name, Penneys. In 2015, Primark opened its flagship store in the United States in Boston. There are now 29 stores in 12 American states, including New York and Orlando, which opened in August from last year.

The company also launched its first American campaign this month, entitled “That’s So Primark”, and aims to have 60 American stores by 2026.