CEO Who Led Improvement in British Luxury Brand Burberry's Performance Moves to Ferragamo

Job Change to Salvatore Ferragamo After Retirement at the End of This Year

▲Marco Gobbetti, CEO of Burberry

[Asia Economy Reporter Kwon Jae-hee] Marco Gobbetti, CEO of the British luxury brand Burberry, will retire at the end of this year and move to Salvatore Ferragamo.

On the 28th (local time), Burberry announced in a statement, "Gobbetti, who has served as CEO since July 2017, will resign at the end of this year and return to Italy where his family is to seek new opportunities."

After the company's announcement, Gobbetti also said, "I thought now was the right time to leave the company as Burberry has entered a path of strong growth."

Gobbetti, who came to Burberry after serving as chairman of Celine under the Louis Vuitton Mo?t Hennessy (LVMH) fashion group, is credited with leading the management improvement of Burberry, which had been struggling with poor performance.

Reflecting this, on the day news of Gobbetti's retirement plan was reported, Burberry's stock price on the London Stock Exchange fell by as much as 8.67%.

Italian luxury company Salvatore Ferragamo announced on the same day that Gobbetti would be appointed CEO immediately upon leaving Burberry.

Although Gobbetti is Italian, he earned a degree in business administration in the United States and served as CEO of Givenchy from 2004 to 2008. He is a veteran executive in the luxury industry who also served as CEO at Moschino and Celine.

This content was produced with the assistance of AI translation services.