Declan Kelly has resigned as president and CEO of Teneo, the global strategy firm, just days after allegations of drunken misconduct surfaced at a fundraiser.
The company said in a statement on Tuesday that Kelly will be replaced by co-founder and chief operating officer Paul Kerry “effective immediately.”
“We would like to thank Declan for his leadership and dedication over the past 10 years in building Teneo into the world’s leading CEO advisory firm,” the statement read.
Kelly has already been removed from the board of directors of Global Citizen, a campaign group that participated in the concert.
A spokesperson for Kelly told the Financial Times last week that the CEO was “temporarily reducing his work responsibilities”, “committed to sobriety” and “providing ongoing advice from healthcare professionals”.
More to track. . .