The boss of Primark has quit over an 'error of judgement' in his behaviour towards a female colleague.

Primark's parent firm, Associated British Foods (ABF), said Paul Marchant has stepped down as chief executive of the high street fashion brand with immediate effect following an investigation.  

It said the incident related to 'his behaviour towards (a woman) in a social environment'. 

The company added that Marchant had made an apology to the individual, the Associated British Foods board as well as 'his Primark colleagues and others connected to the business'. 

The group said it would continue to offer support to the individual who brought this behaviour to its attention. 

ABF's share price fell by nearly 4 percent to £18.64 each after the announcement. 

Finance director Eoin Tonge will set in as interim CEO, with its group financial controller, Joana Edwards, becoming interim finance director.

George Weston, Chief Executive of ABF, said: 'I am immensely disappointed. At ABF, we believe that high standards of integrity are essential. Acting responsibly is the only way to build and manage a business over the long term. 

'Colleagues and others must be treated with respect and dignity. Our culture has to be, and is, bigger than any one individual.'

Marchant joined Primark as chief operating officer in 2009 and became chief executive later that year, taking over from Primark founder Arthur Ryan. He previously worked for Debenhams, Topman, River Island and New Look. 

The first Primark store opened in Dublin in 1969 followed by stores in Belfast and Cork - all under the name Penneys.

By 1974, there were 24 Penneys shops including three in Scotland and two in England.

Today, Primark has more than 450 stores across Britain, employs more than 30,000 colleagues and serves millions of customers every week.