Paul Marchant, CEO of Primark, resigned after an investigation into allegations of inappropriate behavior made by a woman. Following the allegation, Primark's parent company, Associated British Foods (ABF), launched an external investigation. Marchant cooperated and acknowledged his error in judgment, apologizing to those affected. ABF emphasized its commitment to a respectful and inclusive work environment. George Weston, ABF's chief executive, expressed disappointment, stating high standards of integrity are crucial. Marchant, in charge since 2009, will be temporarily succeeded by finance director Eoin Tonge as shares dipped following the announcement.
"I am immensely disappointed," said George Weston, the chief executive of ABF. "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."
"As we have committed to publicly, ABF seeks to provide a safe, respectful, and inclusive work environment where all employees and third parties are treated with dignity and respect," the press release states.
Marchant acknowledged his error of judgment and accepted that his actions "fell below the standards expected by ABF" and apologized to the woman, his colleagues, and the ABF Board.
Marchant had been Primark's chief executive since 2009, and will be replaced by finance director Eoin Tonge on an interim basis.
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