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Mulberry chief executive to step down

Mulberry has confirmed that its chief executive Bruno Guillon has advised the board of his intention to step down.

GENERAL MERCHANDISE

Mulberry chief executive to step down

The luxury leather goods brand has now commenced the search for a successor. Meanwhile Godfrey Davis, who is currently non-executive chairman and was previously the firm’s chief executive, will assume the role of executive chairman until a replacement is found.

Davis said: "I, along with the board, would like to thank Bruno for his hard work over the past two years. He has helped improve the quality of the Mulberry offering and enabled the company to increase its international appeal and grown international retail sales. I am confident that Mulberry has the heritage, brand appeal and products to build on what has been achieved."

In January Mulberry warned that its full year pre-tax profits were likely to be substantially below market expectations after seeing its retail sales fall by 3% year-on-year in the 17 weeks to 25 January. The firm said the decline was due to tough Christmas trading in the UK and a decline in wholesale sales in Korea.

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