Ted Baker Plc - Board Change

Ted Baker Plc

("Ted Baker") (the "Group")

Lindsay Page & David Bernstein Resign

Lindsay Page

Ted Baker announces that the Board has accepted Lindsay Page's resignation as Chief Executive Officer and that Rachel Osborne has agreed to become Acting Chief Executive Officer with immediate effect.

The Board has accepted Lindsay's offer to support a number of ongoing initiatives and assist an orderly transition of his role. The search for a new Chief Executive Officer will commence in January 2020.

Lindsay joined the Group in 1997 from Arthur Andersen prior to the Company's IPO.  When Lindsay joined the Company, Ted Baker had six shops and one concession in the UK and a turnover of £14m. Alongside the brand's founder, Ray Kelvin CBE, Lindsay has played a key role in Ted Baker's expansion into a truly international brand with a presence in 50 countries.

Lindsay Page commented: "I would like to thank everyone at Ted Baker whom I have had the pleasure of working with since 1997. In particular, I am grateful for the team's support over the last 12 months.

"I would also like to take this opportunity to thank Ray Kelvin for the opportunity he gave me 22 years ago to join this fantastic brand and help to achieve his vision of creating a truly international business. I am very proud of everything the team at Ted Baker has achieved together.

"Ted Baker continues to be a very strong global brand and I wish Rachel Osborne and the rest of the team every success in achieving further growth." 

Sharon Baylay, Acting Chair, commented: "The Board would like to recognise and thank Lindsay for his significant contributions to Ted Baker over the last 22 years.  Lindsay played a key role throughout the development of Ted Baker into an international brand."

David Bernstein

Ted Baker announces that David Bernstein has stepped down as Executive Chairman with immediate effect. A search for his successor is already underway.

Sharon Baylay has assumed the role of Acting Chair of the Board until a permanent successor is appointed.

Sharon Baylay, Acting Chair, commented: "On behalf of the Board, I would like to thank David for his contribution to the Board of Ted Baker, as a Non-Executive Director, Non-Executive Chairman and, most recently, Executive Chairman. We wish David every success for the future."

Details of the remuneration payments to be made to David Bernstein, in accordance with section 430(2B) Companies Act 2006, will be published shortly on Ted Baker's website (www.tedbakerplc.com).

This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of the Company is Peter Hearsey-Zoubie, General Counsel & Company Secretary.