Jennings received his fees as a director to the date of termination and no other payments will be made. Save as set out above, Jennings will not receive any other compensation or payment for ceasing to be a director. These terms are in line with the company’s shareholder-approved remuneration policy, Ted Baker said in a media statement.

“On behalf of the board, I would like to thank Jennings for his strong leadership, passion, and commitment during his eight years at Ted Baker. In addition to his role as remuneration committee chair, we have hugely valued his global retail and merchant experience and the continuity he has provided to the board following the death of John Barton,” Helena Feltham, interim chair, said.

“I am thrilled to have been part of this unique British heritage brand over the latter 8 years. I wish Helena Feltham, the board and the management team much success in implementing the critically important turnaround strategy over the next 18 months in line with the changing customer needs,” Jennings said.

Fibre2Fashion News Desk (GK)