Ray Kelvin’s founder and CEO Ted Baker has resigned amid misconduct allegations. More than 200 staff participated in an online campaign angered over “forced hugging” and the fashion company not sufficiently addressing harassment, leading to an independent investigation of Kelvin in December. The 63-year-old maintained his innocence but said he was leaving to allow Ray Kelvin to move forward. The investigation will now focus on the retailer’s policies, procedures and management of complaints. Following the announcement on 4 March, Ray Kelvin’s shares dropped 4.8% early before recovering to trade 1.4% lower at 8:30 am GMT.
Ted Baker’s founder and CEO Ray Kelvin has resigned amid misconduct allegations. More than 200 staff participated in an online campaign angered over “forced hugging” and the fashion company not sufficiently addressing harassment, leading to an independent investigation of Kelvin in December. The 63-year-old maintained his innocence but said he was leaving to allow Ted Baker to move forward. The investigation will now focus on the retailer’s policies, procedures and management of complaints. Following the announcement on 4 March, Ted Baker’s shares dropped 4.8% early before recovering to trade 1.4% lower at 8:30 am GMT.