Clarks boss quits after habits investigation

Image: Somerset-based Clarks has more than 1,500 stores worldwide

The chief executive of shoe manufacturer Clarks has resigned after an inquiry into complaints surrounding his conduct.

The retailer said Mike Shearwood had faced claims "contrary to the family-owned company's code of business ethics."

Its statement said: "Clarks recently learned that aspects of Mr Shearwood's conduct, conversations and expressions fell short of the behaviours expected of all its employees on a number of occasions.

"In these circumstances the board has accepted Mr Shearwood's resignation.

Image: Mike Shearwood joined Clarks in September 2016. Pic: Clarks

"Clarks named Stella David, formerly the company's senior independent director as interim chief executive officer effective immediately."

The nature of the allegations against Mr Shearwood, the former boss at fashion label Karen Millen, were not disclosed.

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He had been in the post for less than two years and it was during his leadership that Somerset-based Clarks announced it was to return to manufacturing in the UK for the first time since 2006 with a new factory beside its HQ.

More recently a turnaround plan, to focus more on digital sales, was announced after its finances were squeezed by a series of costs over its past financial year.

Original Article

Business

November 25, 2018