Primark’s parent firm, Associated British Foods (ABF), said Marchant has stepped down as chief executive of the budget fashion retailer with immediate effect following an investigation.
The company said Marchant co-operated with the investigation, “acknowledged his error of judgment and accepts that his actions fell below the standards expected by ABF”.
Primark’s parent firm, Associated British Foods (ABF), said Marchant has stepped down as chief executive (Photo: Yui Mok/PA Wire)
ABF said it will continue to offer support to the individual who brought the incident to its attention.
He was previously chief operating officer at rival high street fashion retailer New Look and had held roles at Debenhams, Topman and River Island.
“Acting responsibly is the only way to build and manage a business over the long-term.
ABF’s finance director Eoin Tonge will now act as interim boss of Primark, working with the brand’s senior executives and strategic advisory board, ABF said.
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