Turmoil deepens at Ted Baker as CEO quits
Ted Baker shares tumbled on Tuesday (December 10) morning.
Down as much as 30% in early trade.
That as the UK fashion retailer faces deepening turmoil.
The firm warned Tuesday that full-year profit would fall more than expected.
It says Black Friday sales fell short of hopes.
Last week the firm also said it may have overstated its inventory by as much as 32 million dollars.
Chairman David Bernstein and Chief Executive Lindsay Page are quitting as a result of all the problems.
Page had only been in charge for eight months.
And his appointment was meant to mark a new start.
Former boss and founder Ray Kelvin was forced out over allegations of misconduct.
Chief Financial Officer Rachel Osborne will now take over as interim CEO.
She'll be hoping Christmas season sales can provide a little cheer.
