Burberry boss resigns to take charge of luxury group Ferragamo

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Burberry boss Marco Gobbetti is leaving the British fashion brand after more than four years as CEO to take the helm of luxury goods group Ferragamo in his native Italy, the two companies said on Monday.

Ferragamo, famous for the shoes worn by Hollywood stars such as Audrey Hepburn, said Gobbetti will take up his new role as soon as he is released from his contractual obligations.

Burberry said earlier that Gobbetti would leave at the end of the year for a post that would allow him to return to Italy, adding that he would now begin the search for his successor.

Burberry shares, which have gained more than a third in value since Gobbetti was overcharged, slipped 6% to £ 21.15 (€ 24.67) on the FTSE 100 index within minutes of the bell closing. opening Monday.

“With Burberry re-energized and firmly on track for strong growth, I think the time has come for me to step down,” said Gobbetti.

Burberry, popular for its plaid fabric and TB monogram, said in May that sales were recovering from the coronavirus crisis, in part thanks to a rebound in China, but warned that profit margins would be affected by an increase in prices. investments.

Under Gobbetti, Burberry continued to move upmarket with more upscale products.

The 62-year-old Italian, who led luxury groups Celine, Givenchy and Moschino before joining Burberry, will work with the chairman of the London-listed company, Gerry Murphy, to support the management team for an orderly transition. – Reuters


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