Primark CEO Paul Marchant Resigns Following Misconduct Allegations

Marchant steps down after admitting to a 'misjudgment,' as CFO Eoin Tong takes over as interim CEO.

Paul Marchant, CEO of Primark since 2009, resigned immediately following allegations of misconduct in a social setting.
An external investigation confirmed Marchant's 'misjudgment,' prompting his apology to the affected woman, the board, and colleagues.
Associated British Foods (ABF), Primark's parent company, has not disclosed further details about the allegations.
CFO Eoin Tong has been named interim CEO as ABF navigates the leadership transition.
The announcement led to a nearly 4% drop in ABF's stock price, reflecting investor concerns over leadership stability.