3rd Dec 2018 12:37
LONDON (Alliance News) - Shares in Ted Baker PLC lost 13% in value Monday after harassment allegations were made by employees against the chain's founder & chief executive, Ray Kelvin.
The fashion retailer's shares were trading at 1,574.00 pence each, down 14%, the second worst faller in the FTSE 250 index of London mid-cap stocks midday Monday.
The company's staff have launched a online petition on website Organise Platform to put an end to forced "hugging" and inappropriate touching and comments by Kelvin.
https://platform.organise.org.uk/campaigns/ted-baker-petition
The petition has been signed by over 2,400 people. It is unclear as to how many are current or former employees of the company.
Ted Baker, in response to the allegations and petition, said Monday its board has directed a thorough and urgent independent external investigation into the matters and formed an independent committee of non-executive directors to ensure concerns are carefully considered and appropriate responses are taken forward.
On Sunday, Sky News reported that more than 60 people had come forward to launch the online petition, detailing alleged experiences with Kelvin and calling for the company to end its "awkward hugging policy". The complainants claimed Kelvin would give unwanted hugs, shoulder massages and kisses on the back of their ears at the company's London head office.
Ted Baker, in a statement to Sky News, said that it would make sure an independent investigation was carried out.
"While the claims made are entirely at odds with the values of our business and those of our CEO, we take them very seriously. Ray greets many people he meets with a hug - be it a shareholder, investor, supplier, partner, customer or colleague. Hugs have become part of Ted Baker's culture, but are absolutely not insisted upon," the company said in a statement to the news agency.
https://news.sky.com/story/ted-baker-employees-complain-of-founders-awkward-hugging-policy-11569607
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