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Ted Baker founder Ray Kelvin has resigned from his position as CEO and director of the fashion retailer with immediate effect, amid allegations of misconduct.
Kelvin took a voluntary leave of absence from his role in December 2018, after the allegations of misconduct were made against him, and since that date an internal independent committee has been in the process of investigating the claims.
The committee commissioned law firm Herbert Smith Freehills (HSF) to investigate the allegations and the company’s policies, procedures and handling of HR-related complaints. It is expected that HSF will conclude its investigation at the end of Q1 or early in Q2 2019.
Acting CEO Lindsay Page has agreed to continue in this role, and the board has asked David Bernstein to act as executive chairman to provide additional support to Page. Bernstein has indicated that he will continue in this position until no later than 30 November 2020, by which time a successor will be appointed.
Bernstein said: “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.”
He added: “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.”
