Head Hautie: Christopher Bailey Named New Burberry CEO
Posted Tuesday October 15, 2013 2:01 PM GMT
He’s been at Burberry since 2001, and Christopher Bailey has just been named as replacement to departing chief executive officer Angela Ahrendts.
According to WWD, when Ahrendts jumps ship to serve as a senior vice president over at Apple this spring, Bailey will take over as CEO, while also fulfilling his current CCO duties.
Christopher explained, “I am humbled to be asked to take on the CEO role at this company that means so much to me. I also feel privileged to be keeping my role as chief creative officer."
Burberry chairman Sir John Peace also noted, “This CEO transition is a natural progression. The new beauty division is fully embedded and the Japan integration is well underway.”
However, the company’s shares took a 7.2 percent dip as a result of the move. Antoine Belge and Erwan Rambourg of HSBC speculated, “While Christopher Bailey has proven to be a phenomenal designer, the jury will be out in terms of him running the company as CEO."