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(Reuters) - British fashion retailer Ted Baker named a company veteran as its boss on Thursday, also introducing changes to workplace standards as it looked to draw a line under misconduct allegations against founder and outgoing CEO Ray Kelvin. Ted Baker said interim head Lindsay Page, who joined as finance director in 1997, would take over as chief executive officer with immediate effect. Kelvin, who had been CEO since the company’s launch in 1988, resigned last month over claims he presided over a culture of “forced hugging”.
The company said an independent panel had ended its investigation into the allegations involving Kelvin and recommended changes to the workplace culture - including a review of HR procedures and a whistleblowers’ hotline - which it would implement, It said it would not comment on the claims against Kelvin, who has denied all allegations of misconduct, He remains the company’s biggest shareholder with just under 35 percent, according to Refinitiv Eikon data, Ted Baker’s stock fell 43 percent in value in 2018, and last month it reported its first drop in annual profit since the 2008 financial crisis, highlighting vivienne westwood cufflinks the tough conditions on Britain’s high streets..
Its shares rose 2.2 percent to 1,521 pence after Thursday’s statement. “The appointment of Lindsay Page as CEO and the conclusion of the HSF investigation should now draw a line in the sand in what has been an unfortunate process,” Liberum analysts said. “His (Page’s) appointment makes imminent sense and represents the smoothest of all transitions to a person that has (an) incredibly long pedigree at Ted Baker.”. Retailers are facing a perfect storm of rising costs, slowing growth and the hit to uncertainty spurred by Britain’s chaotic departure from the European Union.
Ted Baker, which opened its first store in Glasgow in 1988 and now has more than 500 outlets and concessions globally, had however reported solid Christmas sales, with the quirky detailing on its suits, shirts and dresses helping the company stand out from rivals, “Questions have been raised about the loss of creativity now Kelvin has gone,” said vivienne westwood cufflinks Laith Khalaf, Senior Analyst at brokerage Hargreaves Lansdown, “But Ted Baker is a company worth more than half a billion pounds, it’s not solely reliant on the flair of just one man.”..
AMSTERDAM (Reuters) - More than 40 licenses were issued in 2018 to businesses moving to Amsterdam from London due to Britain’s departure from the European Union, the Dutch financial markets regulator said on Thursday. In its 2018 annual report the AFM said it had held discussions with 150 companies and expects 30 to 40 percent of the European stock and bond market to move to the Netherlands in the event of Brexit. European leaders agreed during emergency negotiations in Brussels overnight to give Britain six more months to prepare for its departure from 27-member bloc.
SYDNEY/MELBOURNE (Reuters) - Airbus SE said on Thursday that a test flight of vivienne westwood cufflinks its Zephyr surveillance and communications drone in Australia for the British Ministry of Defence was “interrupted” due to adverse weather conditions last month, The solar-electric-powered drone was believed to have crashed during a test flight following a mishap after the take-off, The Australian newspaper reported on Thursday, citing unnamed sources, The flight on March 15 was “interrupted earlier than planned due to adverse weather conditions”, an Airbus spokeswoman said..
“We are working hard on preparing for the next trial,” she said, declining to provide further details. Zephyr is designed to linger at an altitude of about 70,000 feet (21 kilometers) for months at a time for surveillance or to provide a temporary boost to communications. Airbus had said in February it built its first Zephyr global operations site in a remote part of Australia’s northwest because it had ideal launch weather. Australia’s Civil Aviation Safety Authority and the Australian Transport Safety Bureau declined to comment.
ISTANBUL (Reuters) - A Turkish court on Thursday acquitted HSBC Turkey chief executive Selim Kervanci of a charge of insulting President Tayyip Erdogan by retweeting a video on social media at the time vivienne westwood cufflinks of nationwide protests in 2013, Insulting the president is a crime punishable by up to four years in prison in Turkey and thousands of such cases have been opened since Erdogan became president in 2014, The latest case was launched after a complaint by a private citizen, Kervanci told the court he did not intend to insult anyone by retweeting the video and had not viewed the video before sharing it..