Burberry Appoints A New CEO

christopher bailey burberry

by Katie Rosseinsky |
Published on

Christopher Bailey has stepped back as chief executive officer at Burberry, but will remain in the role of chief creative officer and take on a new role as president of the company.

Bailey, who took on the joint role in 2014 after the departure of Angela Ahrendts to Apple, will be replaced as CEO by Marco Gobbetti. Currently the head of luxe French label Céline, Gobbetti is set to join the brand in 2017.

‘I am very excited that Marco Gobbetti is joining us as chief executive officer and as a partner to me,’ Bailey said. ‘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.’

The shake-up at the company follows criticism from some shareholders, who believed that the two-in-one CEO and CCO role should be split once more so that Bailey could fully focus upon creative direction.

burberry london fashion week
Burbery AW16 at London Fashion Week ©Getty Images

According to Burberry’s chairman Sir John Peace, it was Bailey who decided to bring in a new CEO, after instigating a review of the label designed to reduce costs by £100 million.

‘The review that [Bailey] has led into our ways of working is the blueprint for the next phase of Burberry’s evolution,’ Peace said. ‘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.’

Earlier this year, Bailey announced a new and more immediate fashion week format for the heritage brand, revealing that Burberry will cut down its catwalk presentations from four to two from September 2016. The new collections will also be immediately available to buy in-store following each show, cutting down the traditional wait time in a savvy business move.

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