Primark CEO resigns after behavior probe

LONDON - Associated British Foods plc (OTC:ASBFY) (ABF) announced on Monday that Paul Marchant has stepped down from his position as Chief Executive of Primark with immediate effect. The departure comes in the wake of an external legal investigation into an allegation concerning his conduct.

Eoin Tonge, currently serving as ABF’s Finance Director, will take on the role of interim Chief Executive at Primark. Joana Edwards, ABF Group Financial Controller, will step into the interim Finance Director role at ABF. Both individuals are recognized for their capability to fulfill these responsibilities effectively.

The investigation into Marchant’s behavior was initiated by ABF after an individual raised concerns about his actions in a social setting. Marchant cooperated with the inquiry and has admitted to poor judgment, acknowledging that his behavior did not meet ABF’s standards. He has extended an apology to the individual involved, the ABF Board, his colleagues at Primark, and other associates.

ABF emphasizes its commitment to maintaining a work environment that is safe, respectful, and inclusive for all employees and third parties. The Group remains dedicated to upholding these values throughout its operations and has offered continued support to the individual who reported the incident.

George Weston, Chief Executive of ABF, expressed his disappointment regarding the situation, underscoring the company’s belief in the importance of integrity and respectful treatment of colleagues and associates. He reaffirmed that the company’s culture is paramount and must transcend the actions of any single individual.

The Group is scheduled to release its interim financial results on April 29, 2025. This announcement is based on a press release statement from ABF.

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