20th Oct 2021 08:55
(Alliance News) - Burberry Group PLC named Gianni Versace SpA's Jonathan Akeroyd as its new chief executive on Wednesday.
Investors cheered the move, with Akeroyd credited by Burberry as "reorganising and accelerating growth" at Italian fashion house Versace.
Shares in the FTSE 100-listed luxury fashion brand were 1.0% higher in London on Wednesday morning at 1,848.50 pence each - making it one of the best performers in the blue-chip index.
He was previously CEO of British luxury brand Alexander McQueen. Burberry said he "led a turnaround of the British luxury brand and laid the foundation for global expansion".
Burberry's current CEO Marco Gobbetti will leave the fashion house at the end of 2021, with Akeroyd taking up the role on April 1, 2022. In the meantime, Chair Gerry Murphy will chair the executive committee.
Murphy said: "I am delighted that Jonathan Akeroyd will be joining Burberry as our next chief executive officer.
"Jonathan is an experienced leader with a strong track record in building global luxury fashion brands and driving profitable growth. He shares our values and our ambition to build on Burberry's unique British creative heritage and his deep luxury and fashion industry expertise will be key to advancing the next phase of Burberry's evolution."
Akeroyd added: "I have long admired Burberry's position as the most iconic British luxury brand and I have a deep affection for its storied heritage. I am looking forward to returning to London where I first built my career in the luxury industry to join a talented team with ambitious plans for the future and a strong platform to accelerate growth."
By Paul McGowan; [email protected]
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