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LONDON - There's a changing of the guard at Burberry Group Plc, and once again the new chief executive officer of the British fashion and luxury goods firm is an American.
Angela Ahrendts, executive vice president of Liz Claiborne, where she was responsible for overseeing women's wear and men's wear, will replace Rose Marie Bravo as ceo in July, the company announced.
Ahrendts, 45, will join London-based Burberry as executive director on Jan. 9 and work alongside Bravo, who will move to the newly-created role of vice-chairman. Bravo, 54, said she planned to move back home to Long Island, N.Y., but would be working ``at least'' 12 days a month for Burberry.
Bravo's departure will come after Burberry is fully demerged from Great Universal Stores, which owns 66 percent of the company. She engineered a turnaround at Burberry, increasing the company's market share tenfold since her arrival in 1997.
"Rose Marie and I agree that the time is now right for her role to transition to that of vice chairman," John Peace, Burberry's chairman, said in a statement. "The appointment of Angela Ahrendts brings diverse industry experience, strong leadership skills, strategic vision and proven brand management."
— Samantha Conti