Rachel Osborne, CEO, Ted Baker is reportedly set to leave the business following its acquisition late last year by fashion giant Authentic Brands Group (ABG). Reebok-owner ABG acquired Ted Baker late last year in a deal valued at £ 211 million.
UK-based Ted Baker is a British high-street clothing retail company known for suits, shirts, and dresses.
She joined the upmarket British label in 2019 as finance chief and was promoted to CEO in March 2020.
She announced a turnaround strategy as the company fought for survival, with its existing challenges exacerbated.
As per media reports, Ted Baker’s transformation into a brand licensing business means it no longer requires its own CEO.
It is being said that ABG is allegedly in talks to sign a number of new partners in the UK to take over Ted Baker’s design, logistics and other functions, meaning that the British company no longer requires a group CEO.
ABG has not responded to these media reports.
Ted Baker was hit hard by the pandemic. But the brand had also been struggling for several years prior to 2020, as it struggled with profit warnings and a falling share price.
