The boss of Harrods is to step down next year from the group which represents Britain’s luxury goods industry – one of a number of roles he will have relinquished since allegations emerged about years of abuse perpetrated by the Knightsbridge department store’s former owner.
Sky News has learnt that Michael Ward will hand over the chairmanship of Walpole, whose members include the jeweller Boodles, Fortnum & Mason and Gleneagles, when his term ends in 2025.
A recruitment process is underway to find his successor, with an announcement expected in the new year.
Mr Ward, who has run Harrods for close to 20 years, stepped back from a role on the board of the Royal Ballet in September, shortly after the scale of Mohamed al-Fayed‘s abuse became apparent.
The department store chief apologised in the autumn, saying: “We failed our colleagues and, for that, we are deeply sorry.
“As someone who has worked at Harrods since 2006 – and, therefore, worked for Fayed until the change of ownership in 2010 – I feel it is important to make it clear that I was not aware of his criminality and abuse.”
Harrods was bought by Qatar Holding in 2010 for about £1.5bn, making it one of the most significant overseas acquisitions by Gulf investors.
Mr Ward took over as Walpole chair in 2016, meaning he will have to stand down next year, according to the group.
A not-for-profit organisation, Walpole has more than 250 members and promotes the luxury goods sector in Britain and internationally.
A Walpole spokesperson said: “Having served the maximum tenure allowed; Michael Ward will step down in 2025 at the end of his current term as Walpole Chair.”
