Primark’s Chief Executive Resigns Amid Investigation
The chief executive officer of Primark, Paul Marchant, has stepped down from his position as the company faces an investigation into allegations of inappropriate behavior towards a female employee. This decision comes into immediate effect, marking a significant leadership change for the high-street fashion retailer.
In a statement, Primark expressed that Marchant has acknowledged his “error of judgment” and has accepted that his actions did not meet the high standards expected by Associated British Foods (ABF), the parent company of Primark. The statement further indicated that he has issued an apology to the affected individual, his colleagues, and the wider Primark community.
ABF emphasizes its commitment to supporting the individual who brought the incident to light. The investigation, which was initiated by ABF, centers around claims made by a staff member regarding Marchant’s behavior in a social context.
In the wake of Marchant’s resignation, Eoin Tonge, the Finance Director of ABF, is set to assume the role of Primark’s interim Chief Executive. He will collaborate closely with the senior management team and the Strategic Advisory Board of Primark during this transitional period. Meanwhile, Joana Edwards, the Group Financial Controller of ABF, will take on the responsibilities of interim Finance Director.
According to information on Primark’s corporate website, Marchant joined the company as Chief Operating Officer (COO) in 2009, and he swiftly ascended to the role of CEO within the same year, succeeding Primark’s founder, Arthur Ryan. Prior to his tenure at Primark, he held significant positions at notable retailers such as Debenhams, Topman, River Island, and served as COO at New Look. Under his leadership, Primark reportedly doubled its store footprint since his arrival.
As of now, Marchant has not updated his LinkedIn profile, which still reflects his current role at Primark.
Expressing his disappointment over the situation, George Weston, Chief Executive of ABF, stated, “At ABF, we believe that high standards of integrity are essential. Acting responsibly is the only way to build and manage a business over the long term. Colleagues and others must be treated with respect and dignity. Our culture has to be, and is, bigger than any one individual.”
The Weston family retains a 58 percent stake in ABF, which operates across a diverse array of industries, including grocery, ingredients, and sugar businesses. The Group is scheduled to announce its interim financial results on April 29, 2025.
With over 450 stores nationwide, Primark employs more than 30,000 individuals who collectively serve millions of customers each week.
