Ted Baker names new CEO as Ray Kelvin inquiry ends

Hedge fund increases stake to 12% in Ted Baker
Toscafund shores up Ted Baker stock.
// Ted Baker appoints Lindsay Page as CEO as investigation against Ray Kelvin’s sexual harassment allegations concludes
// Law firm HSF was appointed to investigate the allegations which Kelvin denied
// Page joined Ted Baker as group finance director in February 1997 and has been CEO on an acting basis since March 4

Ted Baker has confirmed that the investigation into the sexual harassment allegations of its founder and former chief executive Ray Kelvin has concluded.

Law firm Herbert Smith Freehills (HSF) were appointed to investigate the allegations which Kelvin continues to deny.

The British fashion retailer appointed Lindsay Page as chief executive with immediate effect following Kelvin’s resignation on March 4.

Page joined Ted Baker as group finance director in February 1997 and took on the role of chief operating officer in July 2014.

He has now been confirmed as the permanent chief executive as the retailer draws up plans on renewed training for all employees on HR policies and procedures and on acceptable workplace conduct.

Ted Baker said since HSF’s appointment, it has focused on the company’s policies, procedures and handling of HR-related complaints.

As part of this investigation, HSF interviewed current and former employees of Ted Baker.

Meanwhile, Ted Baker’s Nomination Committee is considering further board appointments, which will be announced in due course.

“Throughout the process that led to his appointment, Lindsay has demonstrated to myself and the Board his unrivalled knowledge of the business and his clear vision on the opportunities and priorities that lie ahead,” Ted Baker executive chairman David Bernstein said.

Regarding the investigation, Bernstein said: “We are determined to learn from this process and, moving forward, cultivate a better environment for all employees where they always feel respected and valued.

“We are implementing changes and improvements and are committed to developing best-practice HR policies and procedures that reflect the Ted culture we are looking to develop and enhance in the future.”

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