Paul Marchant has stepped down as CEO of Primark with immediate effect following an internal investigation into his behaviour toward a woman in a social setting, parent company Associated British Foods (ABF) announced on Monday.
Marchant, who led Primark for 16 years and oversaw its expansion into Europe and the U.S., admitted to a lapse in judgment and acknowledged that his actions did not meet ABF’s standards. He has apologized to the individual involved.
ABF stated that it is supporting the person who reported the incident but did not provide further details.
Expressing disappointment, ABF chief executive George Weston emphasized that the company’s culture is more significant than any single individual.
Primark, headquartered in Ireland, operates in 17 countries, employs over 80,000 people, and contributes nearly half of ABF’s total sales.
