Burberry has named MARCO GOBBETTI chief executive officer. CHRISTOPHER BAILEY will becomes President and Chief Creative Officer.
BY KENNETH RICHARD
In a move to position the house for future growth, Burberry Group is transitioning Christopher Baily to President and bringing in Marco Gobbetti as Chief Executive Officer beginning next year. Bailey, who took over the role of CEO in 2013 will retain his role as Chief Creative Officer.
Gobbetti joins Burberry Group from French luxury brand Céline where he is currently Chairman and CEO, a role he has held since 2008. Previously he held various roles at Givenchy and Moschino. Both Bailey and Gobbetti will reported to Burberry chairman John Peace. In additional management moves Julie Brown has been named Chief Operating and Financial Officer, a new role.
Bailey’s new role of President will oversee all elements of brand and design, working in partnership with Gobbetti on company strategy and culture.
Burberry shares jumped 6 percent on the news announcement this morning.
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.
“Since taking on the combined role of chief executive and chief creative officer, Christopher Bailey has done an excellent job set against a backdrop of challenging market conditions,” stated Peace. “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.”