Dive Summary:
- Burberry has named an executive to take over the position of chief design officer for the luxury retail brand.
- The company announced this week it will promote 12-year Burberry veteran Luc Goidadin to the newly established executive role.
- Burberry CEO Angela Ahrendts is set to resign from the company by mid-2014 and be replaced by current creative head Christopher Bailey.
Dive Insight:
In October, current Burberry CEO Angela Ahrendts announced she would move to a new executive role within the company and that Bailey would maintain his chief designer role while also acting as chief executive officer for the brand. Following the announcement of Ahrendts’s resignation last month, stock shares fell nearly 6% for the company. Burberry is hoping this announcement helps alleviate uncertainty among shareholders.
