Longtime Primark CEO Paul Marchant has resigned from his role effective immediately after admitting to an “error of judgment,” the company said on Monday.
Marchant, who took the helm at the Dublin, Ireland-based fashion retailer in 2009, left after the company launched an investigation into “an allegation made by an individual about his behavior towards her in a social environment,” Primark owner Associated British Foods said in a press release.
The former chief executive cooperated with the investigation and accepted that “his actions fell below the standards expected by ABF,” the company said. Marchant also apologized to the individual who made the complaint, as well as the ABF board and his Primark colleagues, the firm added.
“I am immensely disappointed,” George Weston, chief executive of ABF, said in a statement.
“At ABF, we believe that high standards of integrity are essential. 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,” he added.
Primark did not immediately respond to The Post’s request for comment.
Marchant was appointed chief executive by Arthur Ryan, who founded Primark in Dublin in 1969.
The fast-fashion retailer, which sells clothing, home and beauty products at ultra-low costs, is a staple across cities in Britain and Ireland.
It boasts more than 450 stores across 17 countries, including at least 29 locations in the US.
Primark is continuing to expand, having signed 17 leases for future US storefronts.
“Under Paul’s leadership, Primark has become a truly international business,” a biography of Marchant on Primark’s website said. “He has spearheaded our European and US expansion, more than doubling our store footprint since joining.”
In its latest financial year ended September 2024, the retailer reported sales of 9.4 billion pounds, or $12.2 billion – a 5% jump from the year before.
ABF will report its interim financial results as planned on April 29, the company said.
Eoin Tonge, ABF’s finance director, will act as Primark’s interim chief executive officer, according to the press release.
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