Burberry boss Angela Ahrendts,who has overseen a doubling in sales and a 250-per cent jump in the shares of the British fashion brand,will leave to take up a job at Apple next year and hand over to creative director Christopher Bailey.
Shares in the 157-year-old group,which is best known for its camel,red and black check pattern,fell as much as 6.4 per cent on Tuesday after Burberry said the 42-year-old Bailey would act as both chief creative officer and chief executive.
I would say that the creative and CEO roles do not necessarily sit easily together. Angela was always seen as a business person who had a sense for the fashion. A fashion person with a sense for business might be a harder sell as CEO, one top 20 Burberry shareholder said on condition of anonymity.