The boss of Primark has resigned after admitting an “error of judgement” in his behaviour towards a woman in a social environment.
Paul Marchant stepped down as chief executive of the high-street fashion brand with immediate effect following an investigation.
Primark‘s parent firm, Associated British Foods (ABF) said he had co-operated with the investigation, and “acknowledged his error of judgment 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 firm added.
ABF’s current finance director Eoin Tonge will take over as chief executive on an “interim basis” and his role will be taken up by Joana Edwards, the group’s current financial controller.
The group’s overall chief executive George Weston said he is “immensely disappointed”.
“At ABF, we believe that high standards of integrity are essential,” he 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.”
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The group’s statement added it “seeks to provide a safe, respectful, and inclusive work environment where all employees and third parties are treated with dignity and respect”. “Primark is committed to doing business the right way at all levels of the company,” it said.
ABF promised to continue supporting the woman who made the complaint.
Primark results due soon
The group will still publish its interim results for the financial year as planned on 29 April, according to its statement.
In January, ABF reported an uncharacteristic decline in like-for-like sales at Primark across the UK and Ireland.
Sales at the store fell by 6% – with Primark saying it expects “low single-digit” sales growth for 2025 as a result – down from mid single-digit levels in November 2024.
Speaking at the time, Russ Mould, investment director at AJ Bell, said: “If Primark is struggling, you know the UK retail sector is in trouble.”
