The company has fallen from stock market darling to business in crisis in less than two yearsTed Baker has hired headhunters to find a new chairman, paving the way for a shake-up of its top ranks after a catastrophic year that has plunged the fashion retailer into crisis. The company has appointed Korn Ferry to find a replacement for David Bernstein, 76, who joined the board in 2003 and became chairman in 2013. He took on an executive role in March after founder and chief executive Ray Kelvin was forced out amid allegations of sexual harassment, revealed by The Sunday Times, which he denies. Kelvin’s successor, Lindsay Page, whom Bernstein promoted from finance director, is under pressure after Ted Baker announced last week it had overstated the value of its stock by between £20m and £25m in prior years, heaping more…

Source: The Times December 08, 2019 00:00 UTC