Ted Baker PLC Conclusion of HSF investigation (8347V)
April 11 2019 - 2:01AM
UK Regulatory
TIDMTED
RNS Number : 8347V
Ted Baker PLC
11 April 2019
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."
Enquiries:
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
tedbaker@hudsonsandler.com
Media images available for download at:
http://www.tedbakerplc.com/ted/en/mediacentre/imagelibrary
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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END
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