After six years at the British house, Brown will step down as Burberry’s chief financial and operating officer at the end of the financial year on April 1, 2023.
Brown is leaving to pursue opportunities “outside the luxury industry,” Burberry said in a statement, adding that a search is underway for her successor.
Brown has helped steer the luxury house as it seeks to increase its positioning in a more upmarket market, as well as during a tumultuous period of the pandemic, which has hit sales.
This year, a new CEO, Jonathan Aykeroyd, joined the company amid a multi-year effort reposition as a luxury brand focused on leather goods remains incomplete five years after the strategy introduced by predecessor Marco Gobetti. Growth continues to lag behind sector leaders such as LVMH, Chanel and Hermes.
“At this point, the departure of the CFO looks like an outright setback,” Bernstein analyst Luca Sola wrote in a note to clients. Burberry shares fell 4 percent in early trading.
Aykeroyd is expected to outline his plans to boost sales when the house reports interim financial results in November. “Julie has played a key role in positioning Burberry for growth,” he said.
New CEO Jonathan Aykeroyd is set to follow the brand promotion strategy introduced by his predecessor as the Covid-19 lockdown drags down sales in the critical China market.
https://www.businessoffashion.com/news/luxury/burberry-cfo-coo-julie-brown-to-exit-next-year/ Burberry’s chief financial officer and chief operating officer, Julie Brown, will leave the company next year