Peter Nygård, a Finno-Canadian, is leaving his position as head of a women's fashion company selling his name. There are heavy allegations of rape and harassment against 78-year-old Nygård.

On Tuesday evening, Nygård International announced its desire to put the wellbeing of its employees, partners and customers at the heart of the situation, which prompted Peter Nygård to resign and relinquish his ownership of the company.

In a news release, the company spokesman accuses the situation of a legal battle between Nygård and his Bahamian neighbor Louis Bacon, to which Nygård is accused of rape. Ten women have filed a lawsuit against Nygård for alleged harassment and rape. Nygård has denied the deeds and alleged that he had been the subject of a defamation campaign by his neighbor.