The chief executive of Primark has resigned with immediate effect, parent company Associated British Foods PLC (LSE:ABF) said on Monday, after an investigation carried out by the company into an allegation made into inappopriate behaviour.
FTSE 100-listed ABF employed external lawyers to carry out the investigation into Paul Marchant following an allegation made about his behaviour towards an unnamed female "in a social environment".
Marchant acknowledged his "error of judgement" and "accepts that his actions fell below the standards expected" by the company and has apologised, ABF said..
Group finance chief Eoin Tonge will step in the role of Primark CEO on an interim basis, while group financial controller Joana Edwards will temporarily replace him in the CFO role.
Group chief executive George Weston said: "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."
Having previously worked at Debenhams, Topman, River Island and New Look, Marchant joined Primark in 2009 as operations chief and stepped up to CEO later that year to take the role from Primark’s founder Arthur Ryan.