15 July 2024
BURBERRY GROUP PLC
("Burberry" or the "Company")
BOARD CHANGE
Burberry today announces the appointment of Joshua Schulman as Chief Executive Officer and Executive Director. Joshua replaces Jonathan Akeroyd who is stepping down and leaving the Company with immediate effect by mutual agreement with the Board.
An American national, Joshua, 52, joins Burberry with a track record of driving transformative growth and value creation as CEO of global luxury, fashion, and retail businesses.
Joshua was previously CEO of American fashion brands Michael Kors (2021-2022) and Coach where he also served as Brand President (2017-2020). Prior to this, at Neiman Marcus Group, he was President of Bergdorf Goodman for five years. From 2007 to 2012, Joshua was CEO of Jimmy Choo in
Joshua will join Burberry on 17 July 2024 and be based at the Company's headquarters in
Gerry Murphy commented: "I am pleased that Josh will be joining Burberry as our new Chief Executive Officer. Josh is a proven leader with an outstanding record of building global luxury brands and driving profitable growth. He has a strong understanding of our brand and shares our ambition to build on Burberry's unique creative heritage. His extensive experience in luxury and fashion will be key to realising Burberry's full potential."
"I would like to take this opportunity to thank Jonathan Akeroyd for the contribution he has made to Burberry. Jonathan has set out a clear strategy for growth that we will build on."
Joshua Schulman commented: "I am deeply honoured to join Burberry as Chief Executive Officer. Burberry is an extraordinary luxury brand, quintessentially British, equal parts heritage and innovation. Its original purpose to protect people from the weather is more relevant than ever. I look forward to working alongside Daniel Lee and the talented teams to drive global growth, delight our customers, and write the next chapter of the Burberry story."
This announcement contains information that qualified or may have qualified as inside information for the purposes of the Market Abuse Regulation (EU) 596/2014 as it forms part of
There are no other matters to be disclosed under listing rule 9.6.13R in relation to Joshua's appointment.
Additional information
About Joshua Schulman
· As CEO and Brand President of Coach, Joshua led a brand transformation focused on global cultural relevance, product innovation and digital growth, resulting in an inflection in sales and operating income.
· At Neiman Marcus Group, he was President of Bergdorf Goodman where he energised the
· As CEO of Jimmy Choo, Joshua led the evolution of the shoe specialist into a global luxury brand. With a strategy of icons and innovation, he expanded the company's global footprint, growing sales and EBITDA 4X in five years.
· Joshua has also been on the board of Zimmermann, the Australian luxury brand and was a non-executive director of Farrow & Ball, the
· Joshua attended
· Originally from
Remuneration Arrangements
Joshua Schulman's remuneration arrangements have been set in accordance with the Directors' Remuneration Policy approved by shareholders at the AGM on 12 July 2023. His salary will be
Jonathan Akeroyd's departure will be treated in accordance with the Directors' Remuneration Policy and his service contract. He will not be eligible for a bonus for the current financial year and all unvested share awards will lapse in full. 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 March 2025.
Annual General Meeting
As the Company's notice of Annual General Meeting 2024 (the "Notice") has already been issued, the Company confirms that resolution 5 to re-elect Jonathan Akeroyd as a director of the Company is now withdrawn. The withdrawal of this resolution does not otherwise affect the validity of the Notice, the proxy form or any proxy votes already submitted or any other resolutions. The numbering of all other resolutions proposed at the Annual General Meeting will remain unchanged. Any votes already cast in relation to resolution 5 are of no effect.
ENQUIRIES
Investors and analysts |
020 3367 3524 |
|
Lauren Wu Leng |
Head of Investor Relations |
lauren.wuleng@burberry.com |
Media |
|
020 3367 3764 |
Andrew Roberts |
SVP, Corporate Relations and Engagement |
andrew.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
· Burberry is a British luxury brand, headquartered in
· 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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