UK. Rose Marie Bravo will step down as Burberry’s Chief Executive next July, to make way for her successor Angela Ahrendts.
Ahrendts, currently the Executive Vice President for US apparel company Liz Claiborne, is to join Burberry in January 2006, initially as an Executive Board Director.
During the seven-month transition period Ahrendts will report to Bravo to ensure a smooth transition. Bravo will then move to the newly-created role of Vice Chairman.
Burberry Group Chairman John Peace said: “Over the past eight years, Rose Marie Bravo has led Burberry through an extraordinary transformation whilst achieving excellent financial results. Rose Marie and I agree that the time is now right for her role to transition to that of Vice Chairman. The appointment of Angela Ahrendts brings diverse industry experience, strong leadership skills, strategic vision and proven brand management to the Chief Executive position and adds a further dimension to Burberry’s accomplished executive team.
“We conducted a thorough succession planning review for the Chief Executive position during which time Brian Blake, President Worldwide and Chief Operating Officer, requested that he not be considered for the role due to family circumstances.”
Bravo commented: “We are thrilled that Angela Ahrendts will be joining Burberry. The depth and breadth of her experience and expertise within our industry complements the proven talents of our existing management. With Angela now on board, joining Brian Blake and Stacey Cartwright and the creative skills of Christopher Bailey, Burberry is well-positioned to take the business forward as we enter the next stage of development and growth.”
In Ahrendts’ current role, she is responsible for womenswear and menswear brands with combined annual sales of approximately 40% of total company revenues. Included within the global brands for which she had responsibility are Ellen Tracy, Juicy Couture, DKNY Jeans, Lucky Brand and the company’s men’s businesses.
At the corporate level, Ahrendts has been an integral member of the new business and strategic business teams. Ahrendts joined Liz Claiborne in 1998 and she has been a key member of the executive team that diversified the corporation from ten to 41 brands. Over the same period, the company’s sales have risen from US$2.5 billion to US$4.6 billion and profits have risen proportionately. Before joining Liz Claiborne, Ahrendts was Executive Vice President of Henri Bendel and spent six years as President of Donna Karan International.
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