Primark Boss Resigns After Inappropriate Behaviour Allegation [Barron's]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Barrons
His resignation with immediate effect comes after 16 years as Primark's CEO, overseeing expansion across Europe and into the United States. "Marchant cooperated with the investigation, acknowledged his error of judgement and accepts that his actions fell below the standards expected by ABF," the company said in a statement. "He has made an apology to the individual concerned," the group added. Agri-food giant ABF said it continues to offer support to the person who brought his behaviour to its attention. The group did not immediately provide further details when contacted by AFP. "I am immensely disappointed," George Weston, chief executive of ABF, said in the statement. He added that "our culture has to be, and is, bigger than any one individual". Ireland-headquartered Primark accounts for almost half of ABF's sales, operates in 17 countries and has more than 80,000 employees. Marchant was the company's second chief executive, succeeding founder Arthur Ryan, who head
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