TOP NEWS: Ted Baker Turns To easyJet's John Barton For Chair Role

Wed, 22nd Apr 2020 08:55

(Alliance News) - Ailing retailer Ted Baker PLC on Wednesday said it has appointed John Barton as its board chair, a role he once held with high street outfit Next PLC and one he currently occupies at FTSE 100 budget carrier easyJet PLC.

Barton is penned to assume the role of non-executive chair at Ted Baker in July.

Ted Baker said Barton brings with him "a wealth of relevant experience to Ted Baker, having held senior non-executive positions across a number of leading consumer-facing businesses".

Barton also was previously a senior independent director at high street chain WH Smith PLC and at SSP Group PLC, an operator of catering units at airports and railway stations.

Ted Baker Acting Chair Sharon Baylay said: "Following a thorough and competitive search process, the board is delighted that John is joining us as chair and we look forward to welcoming him to Ted Baker.

"His significant experience in a number of leading customer facing businesses, including very relevant experience from his time spent leading the board at Next, will be of great value as we continue the journey to transform the business."

Barton's appointment comes shortly after Ted Baker named finance boss Rachel Osborne as its permanent chief executive officer. The retailer's third in just over a year following a string of profit warnings and a misconduct scandal which claimed the head of founder Ray Kelvin.

It has been a tough time for Ted Baker since the departure of its founder early last year amid accusations of inappropriate hugging.

Prior to the appointment of Osborne as CEO and now Barton as chair, the two top-level roles at the once high-flying chain have been up for grabs were unoccupied since December. Lindsay Page stepped down as chief executive and David Bernstein as chair.

Barton's appointment comes during a tumultuous time for easyJet's board room too.

Founder and largest shareholder Stelios Haji-Ioannou, who does not have a board role, called for the removal of Barton, as well as the carrier's CEO Johan Lundgren: Lundgren for authorising an Airbus SE aircraft order and Barton for not calling for an inquiry on it.

easyJet on Friday confirmed shareholders will get a vote on the matter at a general meeting.

On his Ted Baker appointment, Barton said on Wednesday: "It is an honour to be appointed chair of this iconic British brand at such a critical time and I would like to extend my huge thanks to Sharon for leading the board in the interim period.

"These are unprecedented times, and while I do not underestimate the significant challenges ahead of us, Ted Baker has strong foundations from which to build: a refreshed and committed leadership team, fronted by Rachel Osborne; dedicated and loyal colleagues; a strong brand which resonates with customers; diversified income streams and a well-invested, omni-channel platform."

Ted Baker shares were 1.0% lower at 140.06 pence each on Wednesday morning in London.

By Eric Cunha; ericcunha@alliancenews.com