The head of Primark has resigned after an allegation from a woman about his behaviour.
Paul Marchant stood down as chief executive of the high street fashion brand with immediate effect on Monday after an investigation by external lawyers.
Associated British Foods (ABF), which owns Primark, said Marchant “acknowledged his error of judgment and accepts that his actions fell below the standards expected”.
It said Marchant co-operated with the investigation and apologised to the woman involved.
Marchant had been in charge of the fast fashion chain for 16 years.
What we know
The details of the alleged incident have not been released, but ABF said it related to Marchant’s “behaviour towards (a woman) in a social environment”. It said he had acknowledged “his error of judgement”.
The statement from the company said: “He has made an apology to the individual concerned, the ABF board and also to his Primark colleagues and others connected to the business.”
Paul Marchant had been boss of Primark since 2009. (PA)
ABF said it will continue to offer support to the woman who brought the incident to its attention.
George Weston, chief executive of ABF, said: “I am immensely disappointed. 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.”
Who is Paul Marchant?
Born in the UK, Marchant joined Primark as chief operating officer in 2009 and later the same year became chief executive, taking over from the company’s founder, Arthur Ryan.
He joined the company from New Look, where he was also chief operating officer, and had worked at a number of brands, including Debenhams, Topman and River Island.
On its corporate website, where Marchant is still listed as chief executive, Primark says: “Under Paul’s leadership, Primark has become a truly international business. He has spearheaded our European and US expansion, more than doubling our store footprint since joining.”
Primark’s performance
Primark operates under its trade name Penneys in Ireland, where it is based, and has more than 450 shops.
Primark makes up almost half of ABF’s sales and brought in more than £9.4bn in revenues in the year up to September 2024.
In January, the firm cut its sales forecasts blaming “cautious” shoppers and unfavourable weather – predicting only “low single-digit” sales growth in 2025. In November, the company had said it expected “mid single-digit growth”.
Its UK and Ireland sales fell by 4% in the 16 weeks to 4 January, although sales in Spain, France, Italy and the US all increased, with the latter reporting a 17% rise.
Following Marchant’s resignation, ABF’s finance director Eoin Tonge will act as interim boss of Primark, while Joana Edwards, ABF group financial controller, will replace Tonge.
Shares in ABF, which also owns grocery brands such as Ryvita and Twinings, fell by 4% in early trading on Monday as a result of Marchant’s resignation.