Is Burberry looking for backup for Christopher Bailey?
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London - Burberry is said to be mulling over the appointment of a senior manager to offer support to its Chief Executive Officer/Creative Director Christopher Bailey.
Bailey has stood at the helm of both the business and creative divisions of the British fashion house since the departure of its former CEO Angela Ahrendts in 2013. However, he is said to face growing concerns from investors following flagging sales and disappointing trading. Shares have dropped 21 percent since Bailey took over the reigns as CEO, causing investors to raise concern over his leadership skills, according to the Financial Times.
"Bailey needs back-up," revealed one shareholder, who has sold down Burberry shares in the past year, to FT. "He needs someone to help him on the marketing and retail side, who has a good understanding of the business and knows exactly where they want to take the company." Another shareholder believes the British luxury house would fare better if Bailey was able to focus solely on the creative side of the company.
"It worked with Christopher Bailey as head of design and Angela Ahrendts as chief executive, but there have been problems since he took up both roles after she left," said the investor, who added: "It is time for Sir John to move — it was his decision to give Bailey the twin role, so doubts over Bailey mean there are doubts over Sir John, too."
Burberry declined to comment on the speculation. Concerns surrounding Bailey roles comes after the British heritage fashion house created a new position of Chief of People and Corporate Affairs Officer, as well as as the position of a Chief Information Officer. At the time of the roles creation, Bailey said the two positions would "play key roles in Burberry's leadership team."
Photos: On the set of Mr.Burberry, Christopher Bailey with Oscar-winning director Steve McQueen - Burberry Facebook