Ted Baker founder back after exit over ‘forced hug’ claims
THE FOUNDER of the Ted Baker fashion chain – a former JFS pupil – is to have an active role in running the business once again after he quit as boss amid “forced hugging” claims.
Ray Kelvin, who owns almost 12 per cent of the fashion retailer, stood down in March last year amid allegations of inappropriate behaviour towards staff.
But in what has been described as a new “relationship agreement” by the firm, he will now have a say in business decisions for the first time in nearly two years.
In a statement, Ted Baker said this agreement would “bring the benefits of access to Ray’s unique brand experience andinsightwhileatthesametimeintroducing clear guidelines that will ensure board independence is maintained and thattheinterestsof theshareholdersare prioritised and protected”.
Mr Kelvin, 64, who has denied allegations of inappropriate conduct against him,willnowhaveanominateddirector on the board to represent his interests.
He founded the company in 1988, but took leave of absence immediately after harassment allegations were published in the Sunday Times in 2018.
At that time, the executive chair of the company, David Bernstein, praised Mr Kelvin “for his tireless energy and vision”. But he added that “in light of the allegations made against him, Ray has decided that it is in the best interests of thecompanyforhimtoresignsothat the business can move forward under new leadership”.
Anindependentinvestigationintothe allegations was conducted by City law firm Herbert Smith Freehills.