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Ted Baker CEO Rachel Osbourne is set to step down from her position following the takeover by Authentic Brands Group (ABG), according to reports from Sky News.
Osborne joined Ted Baker as finance chief in 2019, before being elevated to the top job in March 2020.
The news comes as ABG continues the process of becoming a brand licensing business.
ABG is in talks to sign a number of new partners in the UK to take over Ted Baker’s design, logistics and other functions, having already signed these deals in the US and China.
The changes mean that Ted Baker no longer needs a CEO according to sources close to the company.
ABG acquired the business in a £212m deal last autumn after a number of discussions with other prospective bidders.
A spokesperson for Ted Baker said: “As we integrate Ted Baker into Authentic Brands Group’s business model, some of the senior executive team will be leaving us. We thank Rachel, Marc, Peter, and Helen for the role they have played in the company’s journey to this point and their commitment and dedication to Ted Baker.
“They will leave behind a business growing from strength-to-strength, with the full support of Authentic. Everyone at Ted thanks them and wishes them well for the future.”
