Burberry Group PLC Board Change (2401D)
June 28 2021 - 1:00AM
UK Regulatory
TIDMBRBY
RNS Number : 2401D
Burberry Group PLC
28 June 2021
Burberry Group plc
("Burberry" or the "Company")
Board Change
Burberry today announces that Marco Gobbetti has notified the
Board of his intention to step down as Chief Executive Officer and
leave the Company at the end of 2021.
Marco, who has led the transformation of Burberry's brand and
business, will be stepping down after nearly five years with the
Company to take up another opportunity that will enable him to
return to Italy and be closer to his family.
The Board will now begin the search for a successor. We
anticipate Marco will remain with Burberry until the end of the
calendar year. In that time, he will work with Chairman Gerry
Murphy to provide full support to the executive leadership team on
an orderly transition. Further updates will be provided in due
course.
Gerry Murphy, Chairman, commented: "I would like to thank Marco
for his partnership and the immense contribution he has made to
Burberry. He has had a transformative impact and established a
clearly-defined purpose and strategy, an outstanding team and
strong brand momentum. The Board and I are naturally disappointed
by Marco's decision but we understand and fully respect his desire
to return to Italy after nearly 20 years abroad. With the execution
of our strategy on track and our outlook unchanged, we are
determined to build on Burberry's strong foundations to accelerate
growth and deliver further value for our shareholders."
Marco Gobbetti, CEO, commented: "It has been an incredible
privilege to serve as Burberry's CEO and lead such a hugely
talented team. As a group, we have elevated and strengthened the
brand and the business, while continuing to be a force for good.
With Burberry re-energised and firmly set on a path to strong
growth, I feel that now is the right time for me to step down. I
would like to thank my colleagues as well as Gerry and the Board
for their partnership. I am fully committed to supporting them
through the transition and I have every confidence that the
creativity and strong values that define Burberry will continue to
drive the Company's future success."
Remuneration information:
Marco Gobbetti will be treated in accordance with Burberry's
approved remuneration policy and his service contract for the
remaining term of his employment. All share awards which are
unvested at the point that Marco Gobbetti leaves Burberry will
lapse in full. No further share awards will be granted.
Full details will be disclosed on Burberry's website in
compliance with Section 430(2B) of the Companies Act 2006 and in
the Directors' Remuneration Report within the Company's Annual
Report and Accounts for the year ended 2 April 2022.
This announcement contains inside information and is made on
behalf of the Company by Gemma Parsons, Company Secretary.
28 June 2021
Enquiries
Investors and analysts
Julian Easthope VP, Investor Relations 020 3367 4458
julian.easthope@burberry.com
Media
Andrew Roberts VP, Corporate Relations 020 3367 3764
a ndrew.roberts@burberry.com
This announcement does not constitute an invitation to
underwrite, subscribe for or otherwise acquire or dispose of any
Burberry Group plc shares, in the UK, or in the US, or under the US
Securities Act 1933 or in any other jurisdiction.
Burberry is listed on the London Stock Exchange (BRBY.L) and is
a constituent of the FTSE 100 index. ADR symbol OTC:BURBY.
BURBERRY, the Equestrian Knight Device, the Burberry Check and
the Thomas Burberry Monogram and Print are trademarks belonging to
Burberry.
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END
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