Burberry’s chairman Sir John Peace is planning to leave. Peace has been chairman of the luxury fashion retailer since 2002.
A successor will be announced by the end of 2018. Meanwhile Christopher Bailey, who had been combining the role of chief executive and chief creative officer, will step aside and become president of the iconic British brand.
It is not clear whether the departure of 68-year-old Peace from Burberry will mark the end of a long career in the boardrooms of some of the UK’s biggest companies. At one point, he chaired three major businesses – Burberry, the credit-checking company Experian and Standard Chartered bank.
Marco Gobbetti will become chief executive next month after being recruited from French luxury rival Céline. His appointment is one of a number of senior management changes at the company, which recently hired Julie Brown from the medical supplies group Smith & Nephew as chief operating officer and chief financial officer.
Founded in 1856, Burberry is a global luxury brand with a distinctive British identity manufacturing clothing, fragrance and accessories. It is known for its iconic trench coat, sweaters, jackets, backpacks, and the unique and recognizable tartan pattern. The brand has a heritage of innovation, craftsmanship and design.
