Céline’s Marco Gobbetti to Replace Burberry’s Christopher Bailey

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Just last month, Burberry reported its then CEO Christopher Bailey taking a pay cut of 75 per cent following “a watershed year for the luxury sector”. The label’s shares took a plunge of about 35% in the past year, as it announced plans to buy back shares and cut costs.

Now, the British trench coat maker has announced plans for a boardroom shakeup, with new leadership roles for its senior team as part of a concurrent business plan that is moving towards future growth opportunities in various sectors.

Of which, Marco Gobbetti has been appointed Burberry’s new Chief Executive Officer and will join the Board on an unspecified date in 2017, after fulfilling some contractual obligations. He will replace Bailey, who will take on the roles of President and Chief Creative Officer.

Gobbetti currently helms Céline as Chairman and CEO, where he brings over two decades of experience in the luxury industry. His proven track record includes the 8 years he spent with the French luxury brand, where he delivered exceptional growth with his retail and customer focused strategies.

“I am very excited that Marco Gobbetti is joining us as Chief Executive Officer and as a partner to me,” said Bailey. “Marco brings incredible experience and skills in luxury and retail with him that will be invaluable to us. On a personal level, I know that we are going to enjoy a wonderfully collaborative partnership that makes me very excited for our future at Burberry.”

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