16th Jan 2017 08:39
(Correcting Gobbetti's initial title and Bailey's new position.)
LONDON (Alliance News) - Luxury fashion retailer Burberry Group PLC on Monday confirmed incoming Chief Executive Marco Gobbetti will join the group later this month before taking over as CEO in July.
Burberry hired Gobbetti as its new CEO back in July 2016 from French fashion house Celine, where he had been chairman and CEO.
He is replacing Christopher Bailey, who will relinquish his role as CEO but stay with Burberry as president and chief creative officer, the latter of which he had held in combination with the CEO role previously.
Gobbetti will join Burberry on January 27, initially as executive chairman for Asia Pacific and Middle East. He will hold that role until July 5, when he will become CEO.
Burberry shares were up 0.5% at 1,619.00 pence early Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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