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Burberry Ceo Named to Prime Minister's Advisory Group

Burberry’s chief executive Angela Ahrendts has been chosen as a member of Britis

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LONDON — Burberry’s chief executive Angela Ahrendts has been chosen as a member of British Prime Minister David Cameron’s newly-formed business advisory group. The group, whose members include Sir Howard Stringer, chief executive of Sony; Ratan Tata, chairman of Tata, and Michael Queen, chief executive of 3i, will advise Cameron on business and economic issues facing the U.K. “The deputy prime minister and I want to make sure the government is getting really good, high-level advice from some of Britain’s leading business men and women,” said Cameron. “It is vital that we get these policies right as we take forward our plans to drive down the deficit and transform our economy.”

 

Meanwhile, analysts pooh-poohed rumors in London That a bid for Burberry is in the works. London’s Evening Standard reported that a bid for the British company could come soon, from a private equity company based outside the U.K. at a price of 13.50 pounds, or $21.20, share. A Burberry spokeswoman declined to comment on the speculation. Luca Solca, senior research analyst at Bernstein in London, said it’s not likely that Burberry will be taken over. “It is hard to imagine that a bidder could acquire Burberry and create enough value to justify the premium they'd have to pay,” he said. Another London-based analyst said: “You have to wonder about a private equity buyer – it’s not like private equity has had a brilliant track record buying and managing luxury companies.” The chatter, however, was a boon for Burberry: On Thursday, the share price hit a record high of 10.65 pounds, or $16.72.

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