"However, in light of the allegations made against him, Ray has decided that it is in the best interests of the company for him to resign so that the business can move forward under new leadership."
Mr Kelvin's statement said: "Difficult though this decision is given that Ted Baker has been my life and soul for over 30 years, I've decided that the right thing to do is to step away from Ted and allow the business to focus on being the outstanding brand it is so it can face 2019 with fresh energy and renewed spirit.
"As a shareholder in the business I'll support Lindsay in his leadership and be available to him and the team wherever I can offer helpful advice.
"I'm extremely proud of what we've achieved in building Ted Baker to the global brand it is today. Thank you to every single colleague, customer, supplier, and investor for your commitment to the business. We couldn't have done it without you and I'm so grateful.