Conclusion of HSF investigationSource: RNS
Ted Baker plc
("Ted Baker" or the "Company")
Conclusion of HSF investigation
The Board confirms that the independent investigation conducted by the law firm Herbert Smith Freehills ("HSF") into allegations about former CEO Ray Kelvin's conduct (which he denies) and the Company's policies, procedures and handling of employee grievances has now been concluded.
In light of Mr Kelvin's resignation with immediate effect on 4 March 2019, the conclusions and recommendations of the HSF investigation have focused on the Company's policies, procedures and handling of HR-related complaints. The Company will not be making any comment on the specific allegations which were made against Mr Kelvin.
As part of this investigation, HSF has interviewed a significant number of people. This has included current and former employees of the Company as well as others who have had the opportunity to closely observe employees at Ted Baker. HSF has also reviewed documentary evidence from the Company and provided by interviewees. From this work, HSF has identified several areas for improvement in the Company's HR policies and procedures. As a result, the Company has already begun a refresh of its HR policies to ensure their alignment with current best practice.
Actions being taken include:
- Renewed training for all employees on HR policies and procedures and on acceptable workplace conduct.
- Maintaining an independent and confidential whistleblowing hotline.
- Enhancing the oversight of both people and culture matters at the plc Board. As part of this, Sharon Baylay will continue in her new role on the Plc Board as designated non-executive director for engagement with the Ted workforce.
Further actions will be considered and implemented in consultation with employees and other key stakeholders. As part of this, later this year the Company will conduct a survey open to all of the Company's employees about the working environment at Ted Baker in order to gauge views on the improvements that have been made, and any further ones that can be made in order to make Ted Baker an even better place to work.
Executive Chairman David 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.
One of Ted Baker's greatest strengths is its people. I would like to thank our team for their co-operation and input during this process and for their continued hard work and commitment. I am confident that this skilled and dedicated team will continue to drive the Ted Baker brand forward."
Ted Baker Plc
David Bernstein, Executive Chairman Tel: + 44 (0) 20 7255 4800
Charles Anderson, Finance Director & Company Secretary
Phil Clark, Commercial Director
Hudson Sandler LLP (public relations) Tel: +44 (0) 20 7796 4133
Michael Sandler / Hattie O'Reilly / Nick Moore
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Notes to Editors
Ted Baker Plc - "No Ordinary Designer Label"
Ted Baker is a global lifestyle brand distributing across five continents through its three main distribution channels: retail (including e-commerce); wholesale; and licensing.
Ted Baker has 560 stores and concessions worldwide, comprised of 201 in the UK, 122 in Europe, 130 in North America, 98 in the Middle East, Africa and Asia, and 9 in Australasia.
We offer a wide range of collections including Menswear; Womenswear; Global; Phormal; Endurance; Colour By Numbers; Accessories; Bedding; Childrenswear; Eyewear; Footwear; Fragrance and Skinwear; Gifting and Stationery; Jewellery; Lingerie and Sleepwear; Luggage; Neckwear; Rugs; Suiting; Technical Accessories; Tiles; and Watches.
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