Christopher Bailey Is No Longer The CEO Of Burberry

He will be replaced by Céline's Marco Gobbetti

Burberry has announced that Christopher Bailey has stepped down as the CEO of the British luxury house. He will continue to serve as the brand’s chief creative officer and president – a move that some view as a positive one. 

"He needs someone to help him on the marketing and retail side, who has a good understanding of the business and knows exactly where they want to take the company," said a shareholder to Financial Times in a report last month.

Marco Gobbetti has been appointed as Bailey’s replacement. Gobbetti joins the house from Céline, where he is currently chairman and CEO, a position that he has held since 2008. He is slated to take up the role next year.

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