Paul Marchant, CEO of Primark since 2009, resigned after an investigation into his behavior toward a woman. He acknowledged a lapse in judgment and apologized, leading to a 4.9% drop in shares of his parent company, Associated British Foods (ABF). Eoin Tonge, the finance director, has been appointed interim CEO. ABF expressed its commitment to integrity and a respectful work environment, with CEO George Weston emphasizing the necessity of high standards for long-term business success.
Marchant acknowledged his error of judgement and accepts that his actions fell below the standards expected by the company.
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.
Collection
[
|
...
]