Karren Brady resigns

West Ham Vice-Chairman Karren Brady has resigned from her post as chairman of Taveta, the holding company for Sir Philip Green’s retail empire it has been announced this morning.

A spokesman for Lady Brady told confirmed that she had resigned from her post, but added that she would not be issuing any further comment on Monday.

Teveta, in a statement to Sky News, confirmed that Sharon Brown – the company’s non-executive director – had also stood down from her role on its board.

The statement said: “Taveta would like to announce that Karren Brady and Sharon Brown (in their respective capacities as non-executive chairman and non-executive director) have resigned from its board.

“Taveta thanks them for their contribution and wishes them well for the future. Taveta is in active discussions with individuals who have significant relevant experience and expects to make a further announcement as to the composition of its board shortly.”

Just last week the Baroness said she would not be resigning as chairman of Taveta Investments – which owns Sir Philip’s Arcadia Group – asking a reporter, ‘Why should I?’

She refused to speak to a reporter from The Sunday Telegraph but made her views clear by saying the claims against Sir Philip had been ‘denied’.

Baroness Brady’s agent issued a statement to the Daily Telegraph last week saying: ‘You want Baroness Brady to resign from Taveta but she feels a real sense of duty to the 20,000 people who work there, one of which is her daughter, to remain in post. I hope you would agree that walking away is the easy thing to do – staying in the role and ensuring the company is robust going forward is much harder. She has made significant and lasting changes to the business since she became chairman and will continue to do so, ensuring that the company maintains the standards expected of it.’