Declan Kelly, the chief executive of Teneo, a global corporate advisory and communications firm, said on Tuesday that he would step down from his post.
The firm’s chief operating officer, Paul Keary, was appointed as Mr. Kelly’s replacement, effective immediately, the company’s board said on Tuesday.
The news comes after reports surfaced that Mr. Kelly had been had been asked to leave the board of the nonprofit organization Global Citizen after behaving inappropriately at an event hosted by the charity on May 2.
Last week, General Motors reportedly severed ties with the firm.
“On May 2nd I made an inadvertent, public and embarrassing mistake for which I took full responsibility and apologized to those directly affected, as well as my colleagues and clients,” Mr. Kelly said in a 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 C.E.O.”
Teneo was founded by Mr. Kelly, Mr. Keary and Doug Band in 2011 and has more than 1,100 employees. Mr. Band stepped down as president of the firm last year.
Teneo’s board said in a statement it “believes strongly in Teneo’s unique C.E.O. advisory model, global reach and ability to deliver differentiated value to our clients.”
“We are confident that under Paul, and the leadership team, Teneo will continue on its successful path of growth, delivering unique value to clients across its diverse business segments.”