Primark CEO Resigns Over Inappropriate Behaviour Towards Woman

Paul Marchant, who has served as the CEO of the fashion retailer Primark since 2009, has tendered his immediate resignation following an investigation by Associated British Foods (ABF), the parent company, regarding an accusation made by a woman about the executive's behaviour towards her "in a social setting."

Marchant "acknowledged his error in judgement and accepts that his actions did not meet the standards expected by ABF," the multinational reported, adding that the executive has apologised to the individual involved, the ABF board, his colleagues at Primark, and other company-related individuals.

Eoin Tonge, ABF's Chief Financial Officer, will assume the role of interim CEO of Primark, working alongside the management team and Primark's Strategic Advisory Board. Meanwhile, Joana Edwards, ABF Group's financial controller, will act as interim Chief Financial Officer of ABF.

"I am deeply disappointed," stated George Weston, CEO of ABF, emphasising that acting responsibly is the only way to build and manage a business for the long term.

"Colleagues and others must be treated with respect and dignity. Our culture must be, and is, greater than any individual," he added.