Premium retailer Ted Baker has hired headhunters to recruit a new chairman, after a difficult year that resulted in the appointment of consultancy firm AlixPartners.
It has appointed consulting firm Korn Ferry to find a replacement for incumbent chairman David Bernstein, The Sunday Times reports. Bernstein joined the board in 2003 and became chairman in 2013.
It comes after Ted Baker drafted in AlixPartners last month to conduct an in-depth review of its operations. This will be separate from the ongoing investigation into an overstatement of inventory levels announced last week. The company has drafted in investigators from Deloitte to probe the blunder, according to Sky News.
Ted Baker is scheduled to issue a trading update on Wednesday, after having issued three profit warnings this year.
Ted Baker has been contacted for comment.