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Ted Baker : Independent Investigation Finds 'several Areas For Improvement'

Ted Baker Plc. (TED.L) confirmed that the independent investigation conducted by the law firm Herbert Smith Freehills or "HSF" into allegations about former Chief executive officer Ray Kelvin's conduct (which he denies) and the Company's policies, procedures and handling of employee grievances has now been concluded.

HSF has identified several areas for improvement in the Company's HR policies and procedures. Meanwhile, Ted Baker said that it appointed Lindsay Page as Chief Executive Officer with immediate effect.

In light of Mr Kelvin's resignation with immediate effect on 4 March 2019, the conclusions and recommendations of the HSF investigation have focused on the Company's policies, procedures and handling of HR-related complaints.

The company said it will not be making any comment on the specific allegations which were made against Mr Kelvin.

HSF has identified several areas for improvement in the Company's HR policies and procedures. As a result, the company has already begun a refresh of its HR policies to ensure their alignment with current best practice.

Actions being taken include: Renewed training for all employees on HR policies and procedures and on acceptable workplace conduct; Maintaining an independent and confidential whistleblowing hotline;Enhancing the oversight of both people and culture matters at the plc Board.

Sharon Baylay will continue in her new role on the Plc Board as designated non-executive director for engagement with the Ted workforce.

The company noted that later this year it will conduct a survey open to all of the Company's employees about the working environment at Ted Baker in order to gauge views on the improvements that have been made, and any further ones that can be made in order to make Ted Baker an even better place to work.

Executive Chairman David Bernstein said, "We are determined to learn from this process and, moving forward, cultivate a better environment for all employees where they always feel respected and valued. We are implementing changes and improvements and are committed to developing best-practice HR policies and procedures that reflect the Ted culture we are looking to develop and enhance in the future."

In a separate press release, Ted Baker said that it appointed Lindsay Page as Chief Executive Officer with immediate effect.

Lindsay joined Ted Baker as Group Finance Director in February 1997 and took on the additional role of Chief Operating Officer in July 2014. In December 2018, he was appointed acting CEO.

The Nomination Committee is considering further board appointments, which will be announced in due course. As previously announced, David Bernstein will continue to support Lindsay in his capacity as Executive Chairman until a new Non-Executive Chairman is appointed.

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