Christopher Bailey to cede CEO role at Burberry to Marco Gobbetti
Meanwhile, Marco Gobbetti has been appointed as the luxury brand’s chief executive and will be responsible for all commercial, operational and financial elements of the business. Bailey will remain on the board and will work in partnership with Gobbetti on company strategy and culture.
Both Bailey and Gobbetti will report directly to Burberry chairman Sir John Peace.
Due to join Burberry in 2017 “as soon as he is contractually able to do so”, Gobbetti is currently chairman and chief executive of French luxury brand Céline. With more than 20 years experience in the luxury industry, he has also grown and developed brands such as Givenchy, Moschino and Bottega Veneta.
Bailey said: "I am very excited that Marco Gobbetti is joining us as chief executive officer and as a partner to me. Marco brings incredible experience and skills in luxury and retail with him that will be invaluable to us. On a personal level, I know that we are going to enjoy a wonderfully collaborative partnership that makes me very excited for our future at Burberry."
Peace added: "The review that he has led into our ways of working is the blueprint for the next phase of Burberry's evolution. In order to maximise our ability to successfully implement these plans, Christopher identified the need for a new chief executive for the business who could partner with him as we execute on the new strategies and I am excited to see what they will do together."
Burberry has also announced that Julie Brown has been appointed to the new role of chief operating and financial officer.
Reporting to the chief executive, Brown will join the business and the board in early 2017 at the latest and will have responsibility for finance, investor relations, IT, global business services and business transformation.
Brown is currently chief financial officer at the global medical technology business Smith and Nephew.
Bailey said: "Julie has an incredibly strong financial track record, as well as extensive experience of leading businesses through major transformation programmes, and is therefore very well qualified to take responsibility for this important and ongoing initiative."
Having played a central role in the development of Burberry's ongoing business review, chief financial officer Carol Fairweather has decided that she will leave the business to pursue new opportunities.
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