Burberry names new CEO in management reshuffle - leatherbiz: Leading n Leatherbiz

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Burberry names new CEO in management reshuffle

12/07/2016
Luxury brand Burberry has named Marco Gobbetti as its news CEO. He takes over from Christopher Bailey, who will become the company’s chief creative officer and president. The reshuffle is part of Burberry’s ongoing review of its business following disappointing results in the last financial year.

Mr Gobbetti, who has been chairman and CEO of French luxury brand Céline since 2008, will join Burberry in 2017. He has previously worked at Givenchy and Moschino during 20 years in the luxury goods industry.

“Marco brings incredible experience and skills in luxury and retail with him that will be invaluable to us,” said Mr Bailey of the new appointment.

It was announced in June that Mr Bailey would had taken a 75% pay cut after Burberry’s poor sales and profit results for the financial year. It reported a year-on-year drop in revenue and profit of 1% and 8.3%, respectively.

Burberry also announced that Julie Brown will take on the role of chief operating and financial officer in early 2017, taking over from Carol Fairweather, who has decided to relinquish the role after 10 years to pursue new opportunities.

Related stories:

Luxury industry veteran joins Burberry 28/06/2017
New Burberry design director to oversee leathergoods and shoes 21/03/2017
Céline fills CEO position 27/02/2017
Burberry must wait until July for new CEO 17/01/2017
Online sales threaten luxury goods stores 19/08/2016
Burberry teases first straight-to-consumer collection 16/08/2016
Burberry sales down in Q1 amid shakeup 13/07/2016
Exit from European Union would hit British luxury companies 22/06/2016
Burberry chief operating officer to leave 13/06/2016
Burberry CEO takes pay cut after disappointing results 08/06/2016
Burberry takes steps to secure future growth after sales and profit decline 18/05/2016

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