Declan Kelly, the embattled CEO of Teneo, has resigned and has been replaced by the firm's co-founder & COO Paul Keary.
The board issued a statement to thank Kelly for his leadership and dedication “in building Teneo into the world’s preeminent CEO advisory role.”
Kelly, who became drunk and exhibited inappropriate behavior at a May 2 charity event for Global Citizen, took full responsibility for his “inadvertent, public and embarrassing mistake.”
He lashed out at an ensuing “campaign against the reputation of our firm” and did not want to be an ongoing distraction, according to his statement.
“In order to protect the employees of Teneo and its clients, and with my family’s strong support, I have decided to leave the company and resign as chairman and CEO,” he said.
Kelly said "he has received countless messages of support from my colleagues, clients, public figures and people who know me well both personally and professionally. Their support and trust are what counts the most. I will be forever grateful to them all.”