Primark CEO quits after complaint over behaviour

(Sharecast News) - Paul Marchant has resigned as Primark chief executive with immediate effect after a woman made a complaint about his behaviour "in a social environment", parent company Associated British Foods said on Monday. Group finance director Eoin Tonge will act as Primark CEO on an interim basis. Marchant's departure follows an investigation, initiated by ABF and carried out by external lawyers. It was not clear whether the complaint was made by a staff member or third party.

"Paul Marchant cooperated with the investigation, acknowledged his error of judgement and accepts that his actions fell below the standards expected by ABF. He has made an apology to the individual concerned, the ABF Board and also to his Primark colleagues and others connected to the business," the company said in a statement.

It added that the group would continue to offer support to the individual who made the complaint.

ABF CEO George Weston said he was "immensely disappointed", adding that "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."

Reporting by Frank Prenesti for Sharecast.com