CEO of fast-fashion brand Primark steps down after allegations of bad behavior in social situation
The chief executive of Primark, one of Europe’s biggest fast fashion retailers, has resigned after an investigation into his behavior toward a woman in a social environment. Paul Marchant, Primark’s CEO since 2009, has apologized to the individual involved and resigned with immediate effect, the company said Monday. Shares in Primark’s parent, Associated British Foods, fell 4.9% in early trading, compared with a 0.8% drop in Britain’s benchmark stock index.