Ted Baker shares (LON: TED) fell this morning the appointment of Colin La Fontaine Jackson as the group’s new Non-Executive Director.
Jackson is a representative of founder Ray Kelvin, who owns over 10% of the company, and left the clothing retailer in 2019 after allegations of inappropriate behavior towards employees.
Following his departure, Ted Baker shares, and profits have fallen as the group warned of difficult trading conditions. The retailer has issued several profit warnings over the past year.
“We are pleased to welcome Colin to the Board and to be able to access Ray’s great experience in building the brand over the last 30 years as we continue to make progress with Ted’s new Formula for Growth,” commented John Barton, the Chairman.
The company has said in a statement that the partnership will bring “the benefits of access to Ray’s unique brand experience and insight, while at the same time introducing clear guidelines that will ensure board independence is maintained.”
Ted Baker shares (LON: TED) fell 5.5% on Tuesday after the announcement and are currently trading -7.60% at 102.38 (1144GMT).
