Burberry Names New CEO

Posted on

Luxury retailer, Burberry Group, has just named its new CEO. The company has chosen Marco Gobbetti, the CEO of French luxury brand Celine, as its new head in charge. He has been involved with brands Givenchy, Moschino and Bottega Veneta.

Gobbetti will be replacing Christopher Bailey who will become president and chief creative director next year.

Both Bailey, 45, and Gobbetti, 57, will report to chairman Sir John Peace.

Julie Brown will be the new chief operating and financial officer. She was previously chief financial officer for medical tech company Smith and Nephew and will be reporting to Gobbetti.

According to the company, Carol Fairweather who was the previous chief financial officer will leave the business to pursue new opportunities.

“The moves are part of the ongoing business review that is targeting future growth opportunities in retail, product and digital enabled by changes to ways of working,” Burberry said in a statement.

Burberry also reported results for its fiscal year ending March 31st. The company’s total revenue declined less than 1 percent to $2.9 billion and operating profit dropped 8.5 percent to $457 million.