CEO 'accepts that his actions fell below the standards expected by the company'
The chief executive officer of Irish-headquartered retailer Primark has stepped down after admitting an "error of judgement" in his behaviour towards a woman last year.
Primark announced on Monday that its long-time CEO, Paul Marchant, has left the company following an independent investigation carried out by its parent company, Associated British Foods (ABF).
The probe stems from an allegation made by an individual about Marchant's behaviour towards her in a social environment, according to Primark.
"Paul Marchant acknowledged his error of judgement and accepts that his actions fell below the standards expected by the company," the company said in a statement. "He has now made an apology to the individual concerned and to his Primark colleagues."
Further details about the incident were not disclosed, but a spokesperson from ABF told Reuters that the incident took place "towards the end of last year."
George Weston, chief executive of ABF, said he is "immensely disappointed" over the situation.
"At ABF, we believe that high standards of integrity are essential," Weston said in a statement.
"Acting responsibly is the only way to build and manage a business over the long term. Colleagues and others must be treated with respect and dignity. Our culture has to be, and is, bigger than any one individual."
According to Primark, they remain in contact with the individual who raised her concerns and have offered her support.
"Across our stores, our offices and our supply chain, we are committed to doing business the right way, at all levels of our teams," it said. "We continue to encourage anyone with concerns about any individuals to share these with us."
ABF also said it aims to provide a safe, respectful, and inclusive work environment where all employees and third parties are treated with dignity and respect.
Marchant started at Primark as chief operating officer in 2009 before eventually becoming the CEO in the same year after former CEO Arthur Ryan stepped down.
According to the company's website, Primark became a "truly international business" under Marchant, who led their European and US expansion. The company now operates 460 stores in 17 countries.
Eoin Tonge, ABF Finance Director, will act as Primark's interim chief executive.
