Women’s Wear Daily
04.20.2014
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fashion-scoops

Angela Ahrendts Donates Burberry Shares

The ceo has donated 50,000 of her shares to the Ahrendts-Couch foundation, a nonprofit charitable corporation of which she is a director but not a beneficiary.

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Angela Ahrendts

Angela Ahrendts

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AHRENDTS’ SEASON FOR GIVING: Burberry chief executive officer Angela Ahrendts has donated 50,000 of her shares in Burberry to the Ahrendts-Couch Foundation, a nonprofit charitable corporation of which Ahrendts is a director, but not a beneficiary. After the gifting the shares, the foundation then sold them at a price of 11.48 pounds, or $17.83 at current exchange, each, raising 574,000 pounds, or $892,000. The transactions took place on Thursday and were disclosed in a statement released to the London Stock Exchange Friday. The foundation, which is incorporated in Delaware, sold the shares in order to be able to make charitable donations, and it no longer holds any shares in Burberry.

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