Longtime Primark CEO Paul Merchant resigned from his role shortly after admitting “false judgment,” the company said Monday.
The merchant, who worked at the helm of Ireland-based fashion retailer Dublin in 2009, left after the company began an investigation into “an allegations made by individuals regarding actions against her in the social environment.” press release.
The former CEO cooperated with the investigation and accepted that “his actions were below the standards ABF expects,” the company said. The merchant also apologised to the individual who filed the complaint, as well as to the ABF Committee and his Primark colleagues, the company added.
“I am extremely disappointed,” ABF CEO George Weston said in a statement.
“ABF believes that high standards of integrity is essential. Being responsible is the only way to build and manage your business in the long run. Your colleagues and others must be treated with respect and dignity,” he added.
Primark did not immediately respond to requests to post comments.
The merchant was appointed chief executive officer by Arthur Ryan, who founded Premark in Dublin in 1969.
Fast fashion retailers selling clothing, household items and beauty products at ultra-low cost are a staple in the UK and Ireland cities.
It boasts more than 450 stores in 17 countries, including at least 29 locations in the United States.
Primark continues to expand, signing 17 leases to future US stores.
“Under Paul's leadership, Primark has become a truly international business,” says the merchant's biography on Primark's website. “He has led our expansion in Europe and the US, and since joining, he has more than doubled the store's footprint.”
In the most recent fiscal year ended September 2024, retailers reported revenue of £9.4 billion ($12.2 billion). This is a 5% jump from the previous year.
The company said ABF will report the interim financial results planned for April 29th.
According to a press release, ABF's finance director Eoin Tonge will act as Primark's interim chief executive.
