Primark’s parent company, Associated British Foods (ABF), has stated that the involved executive has cooperated fully with the investigation, admitting to a lapse in judgment and accepting that his actions did not meet the standards expected by ABF.
“He has extended apologies to the individual affected, the ABF board, his colleagues at Primark, and other stakeholders,” the company added.
George Weston, the Chief Executive of ABF, expressed his profound disappointment in the situation. In a formal statement, he emphasized the importance of integrity in business.
“At ABF, we uphold the highest standards of integrity as fundamental to sustainable business management. It is imperative that all colleagues and associates are treated with the utmost respect and dignity. Our company culture transcends any individual,” he remarked.
Following the incident, ABF announced that Eoin Tonge, currently the Finance Director, will assume the role of Chief Executive on an interim basis. Joana Edwards, the group’s Financial Controller, will step into Tonge’s former position.
The company reiterated its commitment to maintaining a workplace that is safe, respectful, and inclusive, ensuring that all employees and third parties are treated with dignity. “Primark strives to conduct its business ethically at all echelons of the organisation,” the statement read.
ABF also assured ongoing support for the woman who lodged the complaint and confirmed that the publication of its interim financial results would proceed as scheduled on 29 April.
In a January report, ABF noted an unusual decline in like-for-like sales at Primark across the UK and Ireland, with a 6% drop in revenues.
Primark anticipates a “low single-digit” growth in sales for 2025, a decrease from the mid-single-digit growth observed in November 2024.
Russ Mould, Investment Director at AJ Bell, commented on the situation, stating, “If Primark is struggling, it is indicative of broader challenges within the UK retail sector.”
