Baroness Karren Brady has quit as chair of the holding company for Sir Philip Green’s Arcadia Group, Taveta Investments.
The announcement comes just days after saying that she had a “duty” to employees to remain as chairman.
Earlier this month, Karren Brady had said that she would not resign from Taveta following The Telegraph’s reportage of staff complaints. When asked by the newspaper, she said that she would “not be resigning” as chairman, adding “why should I?”
Karren Brady had been chairman since July 2017. She initially joined the company as a non-executive director in 2010.
Taveta Investments is the parent company of Sir Philip Green’s Arcadia Group. Arcadia Group owns the UK high street’s top clothing retailers: Burton, Dorothy Perkins, Evans, Miss Selfridge, Topman, Topshop, Wallis and Outfit. It owns over 2500 UK outlets and hols concessions in British department stores such as Debenhams and Selfridges.
In a statement, the company said:
“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.”
“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.”
Support for the tycoon’s empire has become increasingly controversial as allegations of sexual harassment and racial abuse have been made against him. He denies these allegations.
Last week it was confirmed that Sir Philip Green was facing an investigation for sexual misconduct in the US for having allegedly groped a fitness instructor working at an Arizona wellness resort where he owns a property.
Additionally, the tycoon allegedly kissed, slapped and groped a female employee as well as racially abusing another.
Karren Brady has condemned powerful men who have faced sexual harassment allegations.