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Harrods chief Ward steps down as chairman of luxury goods group Walpole | Money News
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Harrods chief Ward steps down as chairman of luxury goods group Walpole | Money News

The head of Harrods will leave the group that represents the British luxury goods industry next year – one of several positions he has given up since allegations emerged of years of abuse by the former owner from the Knightsbridge department store.

Sky News has learned that Michael Ward will hand over the chairmanship of Walpole, which counts jeweler Boodles, Fortnum & Mason and Gleneagles among its members, 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 almost 20 years, stood down from his role on the Royal Ballet board in September, shortly after the scale of Mohamed al-FayedThe abuses of have become evident.

The department store manager apologized in the fall, saying: “We have let our colleagues down and we are deeply sorry.

“As someone who has worked at Harrods since 2006 – and therefore for Fayed until the change of ownership in 2010 – I feel it is important to clarify that I was not aware of his criminality and abuse .”

Harrods was bought by Qatar Holding in 2010 for around £1.5 billion, making it one of the largest foreign acquisitions by Gulf investors.

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Mr Ward took over as Walpole chairman in 2016, meaning he will have to step down next year, according to the group.

A not-for-profit organisation, Walpole has over 250 members and promotes the luxury goods sector in Britain and internationally.

A Walpole spokesperson said: “Having served the maximum permitted term, Michael Ward will step down in 2025 at the end of his current term as chairman of Walpole. »