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From Liz to Burberry: Ahrendts to Replace Bravo as Brand's CEO

Burberry has named Liz Claiborne executive Angela Ahrendts as ceo, succeeding Rose Marie Bravo, who will become vice chairman.

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"It appears that Bravo will remain quite a hands-on vice chairman, focusing on the more creative, front-end areas, and ceasing the more administrative parts of her current role," said Mardones.

Burberry shares closed at 4.12 pounds, or $7.21, on Tuesday, up 0.3 percent from the previous day's close of 4.11 pounds, or $7.19.

— With contributions from Marc Karimzadeh and Julee Greenberg, New York

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