Ted Baker needs a reboot

Ted Baker, the clothing chain, has been a rare retail success story on the high street. Now it is in the headlines for the wrong reasons. Matthew Partridge reports.

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Kelvin: leaving under a cloud
(Image credit: 2016 Getty Images)

The news that Ray Kelvin will quit immediately as the CEO of Ted Baker has "ended three months of uncertainty", says Matthew Vincent in the Financial Times. His exit follows allegations of inappropriate behaviour, including unwanted hugs, and harassment of staff. The growing scandal "appeared to have weighed heavily on investors' minds", as shown by a dramatic fall in the company's share price last week, on the back of a minor one-off warning about costs. Investors certainly seemed relieved, with the shares surging 5% on news of the announcement. Chairman David Bernstein will also be leaving within the next 18 months.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri