Longtime Leader Admits to ‘Error of Judgment’ as ABF Emphasizes Integrity and Accountability
Paul Marchant, the longtime CEO of fast-fashion giant Primark, has stepped down from his role effective immediately, the company announced on Monday. His resignation follows an internal investigation into an allegation regarding his behavior towards an individual in a social setting.
An Investigation and a Resignation
Associated British Foods (ABF), Primark’s parent company, stated that Marchant fully cooperated with the investigation and admitted that his actions fell below the company’s expected standards. He also issued an apology to the individual who raised the complaint, as well as to the ABF board and his colleagues.
“I am immensely disappointed,” said George Weston, ABF’s chief executive, in a statement. “At ABF, we believe that high standards of integrity are essential. Acting responsibly is the only way to build and manage a business over the long term. Colleagues and others must be treated with respect and dignity.”
A Legacy of Expansion
Marchant, who took the helm in 2009, was appointed by Arthur Ryan, the founder of Primark. Over his 15-year tenure, he played a pivotal role in the company’s international expansion. Under his leadership, Primark grew its presence across Europe and the United States, more than doubling its store footprint.
Primark, a staple in Britain and Ireland, now operates over 450 stores across 17 countries, including 29 locations in the U.S. The retailer remains on an aggressive growth trajectory, with 17 additional leases signed for future U.S. stores.
In its most recent financial year, ending in September 2024, Primark reported sales of £9.4 billion ($12.2 billion), marking a 5% increase from the previous year.
Interim Leadership and the Path Ahead
Following Marchant’s departure, ABF’s finance director, Eoin Tonge, will serve as Primark’s interim CEO. The company remains on track to report its interim financial results as planned on April 29.
Primark has yet to comment further on the situation, but the departure of its longtime leader marks a significant shift for the company as it navigates the challenges of leadership transition while maintaining its global expansion plans.
