Ted Baker cuts four executive posts - report
A leadership restructure will see four members of Ted Baker’s executive board leave the embattled fashion business over the next few months as acting CEO Rachel Osborne steers the company through a period of transformation.
The management overhaul will reshape the size of the brand’s executive board from 13 members to nine.
Some of the departing executives have been with the British business for more than two decades. They include category director Rebecca Rodden, special projects director Mat Ashby and production director Donald Browne. All three will leave the company by the end of April.
Rodden joined Ted Baker more than 21 years ago, while Donald Browne spent over 29 years at the firm.
Director of business process Steven Rickards is expected to exit in the summer, reported Retail Week.
A Ted Baker spokeswoman told the trade paper: “A new executive board structure was announced earlier this week, aimed at supporting the transformation of the business and further development of the brand.”
Meanwhile, Jennifer Roebuck has recently taken up the newly created leadership role of chief customer officer, as announced by acting chair Sharon Baylay at the end of January.
Ted Baker is trying to find its way back into the game after a tough 2019. Hurt by founder Ray Kelvin’s misconduct claims and other issues, the clothing label has seen its share price plummet by 83% over the past 12 months.
In December, Lindsay Page agreed to step down as chief executive officer, and David Bernstein resigned as executive chairman. According to the company, the search to replace Page and Bernstein is ‘progressing well’.
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