Onward
Burberry Currently in Active Pursuit of a Fresh Chairman
Burberry is actively in quest of a new board member who may potentially assume the role of chairman presently occupied by Gerry Murphy since 2018.
The upmarket retailer has engaged the services of headhunters to pinpoint two new non-executive members who could be deemed as possible replacements for the chairman, as per reports by Sky News.
Although there is no specific timeline for Murphy’s exit, sources have hinted that the quest is effectively underway to locate his successor.
An insider in the high-end products sector remarked: “They have clearly stated that the role is open for the suitable candidate.”
In recent advancements, Burberry has appointed former Michael Kors executive Joshua Schulman to succeed former CEO Jonathan Akeroyd, who stepped down “through mutual agreement with the board.”
The handover, in effect immediately, came alongside the company’s disclosure of subpar annual profits following a 20% decline in first-quarter sales.
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