Mike Shearwood has quitted after an investigation carried out due to “complaints of conduct contrary to the family-owned company’s code of business ethics”.
Clarks losses chief executive officer. Mike Shearwood, who assumed his role in September 2016, has quitted after an investigation carried out due to “complaints of conduct contrary to the family-owned company’s code of business ethics”. For the time being, the group will be managed by senior independent director Stella David, who has been appointed interim chief executive officer, according to Drapers.
The shoe company said in a statement that it “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.”
Clarks ended fiscal 2017 (closed on January 31) with a loss after tax of 31.3 million pounds (35.4 million euros), compared to a profit after tax of 26.5 million pounds (30.2 million euros) in 2016. Group sales fell 7% year on year to 1.5 billion pounds (1.7 billion euros).