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Declan Kelly, chief executive of Teneo, a global business communications and consulting firm, announced on Tuesday that he would be stepping down from his post.
The company’s chief operating officer, Paul Keary, has been appointed to replace Kelly with immediate effect, the company’s board of directors said on Tuesday.
The news comes after reports surfaced that Mr Kelly was asked to step down from the board of directors of the nonprofit Global Citizen after behaving inappropriately at an event hosted by the charity on May 2.
Last week, General Motors reportedly chopped off links with the company.
“On May 2, I made an unintentional, public and embarrassing mistake for which I took full responsibility and apologized to those directly concerned, as well as to my colleagues and clients,” said Mr. Kelly in a press release. “In order to protect Teneo’s employees and its clients, and with the strong support of my family, I have decided to leave the company and resign from my duties as Chairman and CEO”
Teneo was founded by Mr. Kelly, Mr. Keary and Doug Band in 2011 and has over 1,100 employees. Mr. Band stepped down as chairman of the company last year.
Teneo’s board of directors said in a declaration he “strongly believes in Teneo’s unique CEO advisory model, global reach and ability to deliver differentiated value to our clients.
“We are confident that under Paul’s leadership and the leadership team, Teneo will continue on its successful growth path, delivering unique value to clients across its various business segments. “
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