Ted Baker founder quits after misconduct allegations
Ray Kelvin, founder and chief executive of British fashion retailer Ted Baker, resigned today following misconduct allegations.
Ted Baker announced an independent investigation into misconduct claims against Kelvin in December in response to an online campaign claiming to represent over 200 employees asking to end “forced hugging” and “a culture that leaves harassment unchallenged.”
“Kelvin has denied all allegations of misconduct. He has, however, today agreed to resign with immediate effect from his position as chief executive officer and as a director of Ted Baker,” the company said in a statement released today.
“I’ve decided that the right thing to do is to step away from Ted and allow the business to focus on being the outstanding brand it is so it can face 2019 with fresh energy and renewed spirit,” Kelvin, 63, said in a statement.
Kelvin, who is the main shareholder with a stake of about 35 percent and has been CEO since its launch in 1988, went on a leave of absence a few days after the investigation began.
He was appointed Commander of the Order of the British Empire in 2011 for services to the fashion industry.
“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,” acting executive chairman David Bernstein said.
Ted Baker has more than 500 stores and concessions globally.