Clarks CEO Shearwood Departs After Misconduct Investigation

(Bloomberg) -- C&J Clark Ltd., the seller of Clarks shoes, has parted company with Chief Executive Officer Mike Shearwood after an internal investigation into complaints about his conduct.

“Clarks recently learned that aspects of Mr. Shearwood’s conduct, conversations and expressions fell short of the behaviors expected of all its employees on a number of occasions,” a company spokeswoman said by email. “The board has accepted Mr. Shearwood’s resignation.”

When reached by phone, Shearwood declined to comment.

Clarks, which began selling shoes almost 200 years ago, said it opened the investigation after receiving complaints from whistleblowers over Shearwood’s behavior. The company did not detail the nature of the allegations.

Amid brutal trading conditions and a Brexit-induced cost increase for the U.K.’s brick-and-mortar retailers, closely held Clarks reported a loss of 31.3 million pounds ($41.5 million) in the year ended Feb. 3.

Shearwood has held senior roles at a variety of U.K. apparel retailers, including Karen Millen and Inditex SA’s Zara and Bershka chains. He had been Clarks CEO for almost two years.

©2018 Bloomberg L.P.

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