// Taveta Investments chairwoman Baroness Karren Brady resigns
// Board member Sharon Brown also departs
// Taveta is the parent company of Sir Philip Green’s Arcadia Group
Baroness Karren Brady has stepped down from her position as non-executive chairman of Taveta Investments, the parent company of Sir Philip Green’s Arcadia Group retail empire.
Non-executive director Sharon Brown has also resigned from the Taveta board.
The reasons behind their departures remain unclear, but it follows a major #MeToo scandal for the City in which Green was named in allegations of sexual harassment and bullying in the final quarter of 2018.
Taveta said it was in “active discussions” with individuals with “significant relevant experience” and would reveal their new chairman and a new non-executive director in due course.
The Arcadia Group board remains unchanged otherwise.
“Taveta would like to announce that Karren Brady and Sharon Brown (in their respective capacities as non-executive chairman and non-executive director) have resigned from its board,” the firm said in a statement this morning.
“Taveta thanks them for their contribution and wishes them well for the future.
“Taveta is in active discussions with individuals who have significant relevant experience and expects to make a further announcement as to the composition of its board shortly.”
Brady, a renowned businesswoman who also appears on BBC’s The Apprentice, first joined Taveta in July 2017.
Brown joined the following December.
Arcadia Group’s empire consists of major fashion retailers such as Topshop and Topman, Miss Selfridge, Evans, Wallis, Burton and Dorothy Perkins.