The chief executive of fashion retailer Ted Baker, Ray Kelvin, has resigned with immediate effect, he will not be entitled to any salary or benefits related to his resignation.
The resignation follows allegations of misconduct since last year. Kelvin has denied all allegations and has been on voluntary leave since December 2018.
Herbert Smith Freehills LLP were commissioned to investigate further the allegations, since December an internal committee have been looking into the accusations.
David Bernstein, executive chairman thanked Kelvin for his “tireless energy and vision.”
“However, in light of the allegations made against him, Ray has decided that it is in the best interests of the company for him to resign so that the business can move forward under new leadership.
“As a board of directors, we are committed to ensuring that that all employees feel respected and valued.
“We are determined to learn lessons from what has happened and from what our employees have told us and to ensure that, while the many positive and unique aspects of Ted’s culture are maintained, appropriate changes are made.”