Business

Ted Baker Chief, Ray Kelvin, Resigns Amid Harassment Claims


LONDON — The founder and chief executive of the British fashion chain Ted Baker resigned on Monday after current and former employees accused him of inappropriate behavior.


Mr. Kelvin denied the allegations, but agreed on Monday to resign immediately as chief executive and director of Ted Baker, the company said.


Shares in Ted Baker, which had sunk immediately after the allegations were made public in December, dropped after the news of Mr. Kelvin’s resignation but quickly recovered, and were up 2.7 percent in morning trading.


“We are determined to learn lessons from what has happened and from what our employees have told us and to ensure that, while the many positive and unique aspects of Ted’s culture are maintained, appropriate changes are made,” Mr. Bernstein added.


Mr. Kelvin named his business, one of Britain’s best known fashion brands, after a fictitious alter ego, and the “hug culture” that he fostered in his office was well known.


After the allegations were made public in December, company said: “Ray greets many people he meets with a hug — be it a shareholder, investor, supplier, partner, customer or colleague.






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