Paul Marchant, the CEO of Primark, has stepped down from his position after an inquiry into allegations of inappropriate behavior towards a woman. This move led to a 4.9% decline in the shares of Associated British Foods (ABF), the parent company of Primark. Eoin Tonge has been named as the interim CEO following Marchant’s resignation. Primark has expressed regret for Marchant’s actions and has pledged to uphold a culture of respect and integrity in the workplace. The fashion retailer is committed to maintaining high ethical standards and ensuring a safe and inclusive environment for all employees. Marchant’s departure comes as a shock to many in the industry, but Primark aims to move forward under new leadership and continue serving its customers with quality products and a strong ethical framework.