Burberry hiring new CEO isn't linked to Christopher Bailey's work
Burberry chairman Sir John Peace insists hiring a new chief executive officer isn't a reflection of Christopher Bailey's hard work.
At the beginning of the week (beg11Jul16) it was announced Marco Gobbetti would be joining the company as CEO, with designer Bailey holding the roles of chief creative officer and president. While some people have speculated this move was because Bailey's dual role of chief creative and CEO wasn't working, Peace has stated this isn't the case and that the shakeup will benefit all those involved.
“(Hiring someone new) is not a reflection of the past, but of our ambitions for the future. There is a lot to be done," he told WWD.
“Last year, we began to recognise the need to evolve the organization, and Christopher reacted quickly, with a plan for growing the business and making it more efficient.
Peace added: "What the board has recognized is the importance of Christopher focusing on what he’s brilliant at. He’ll have a fantastic partner in Marco, and they have complementary skills.”
Gobbetti, who has previously worked for the likes of Celine, will step into his new role next year (17). Both he and Bailey will run the label together, reporting to Peace. The businessman is confident the two men are able to work together in running Burberry, pointing out that Bailey once worked "side-by-side" with his predecessor Angela Ahrendts, despite him reporting to her.
Peace also explained why Bailey had been given two titles in the first place, adding: “It was an obvious thing for the business to do, and shareholders would have never forgiven the board,” he said, had Bailey decided to leave when Ahrendts did in 2014.
“He was enthusiastic about taking over as CEO, and it was so obvious to me, to Angela and to Rose Marie Bravo, (Burberry plc’s first CEO, that Bailey was the man for the job).”