Trouble among the Burberry trench coats

Christopher Bailey’s reign as both chief executive and head designer at Burberry is unlikely to be repeated, writes Kyran Fitzgerald. 

In the light of recent events, the demotion of the highly paid boss of a British luxury goods company hardly ranks that high on the Richter scale. However, the Christopher Bailey story is worth telling.

Mr Bailey is standing down as chief executive next year, following a reversal of fortunes at this high-flying company that led to a sharp drop in its share price. The reins are being handed over to an older man, Italian Marco Gobbetti, with extensive industry experience. A new chief finance officer, with extensive restructuring experience, is also being brought on board.