LONDON (AP) – The CEO of Primark, one of Europe’s largest fast retailers, resigned after investigating the behavior of women in social settings.
Primark CEO Paul Marchant apologized to the participants since 2009 and resigned immediately, the company said on Monday. Primark’s parents’ shares, related UK food, fell 4.9% early trading, while the UK benchmark stock index fell 0.8%.
Marchant “accepted his misjudgment and accepted that his actions were below the company’s expectations,” Primark said in a statement.
The retailer has 451 stores in 17 countries in Europe and the United States
In a statement, Eoin Tonge, the financial director of United UK Foods, said in a statement that he was already named Primark’s interim CEO.
The relevant British Foods said the investigation was conducted by outside lawyers and marchers in collaboration with the investigation. The company said it is committed to providing a “safe, respect and inclusive” work environment.
“I am very disappointed,” ABF CEO George Weston said in a statement. “We believe that high standards of integrity are essential. Action responsibly is the only way to build and manage your business over the long term.”
Associated Press
