Ryan to resign as Primark chief

ARTHUR Ryan – the Dublin-born founder and head of cut-price clothing retailer, Primark – is set to stand down as managing director of the company in September; 40 years after establishing the business.

Now part of the larger Associated British Foods (ABF) group, Primark (which trades here as Penneys) was founded by Mr Ryan in the late 1960s, through the opening of the first Penneys store in Dublin.

The company has nearly 200 stores across Ireland, Britain, Spain, Portugal, Holland and Germany (and its looking at expanding elsewhere in mainland Europe) and contributes 35% of its parent group’s annual profits and 24% of its revenues.