Christopher Bailey steps into his additional role as Burberry's CEO

British luxury fashion company Burberry has officially announced Christopher Bailey's

new role as Chief Executive Officer, as former CEO Angela Ahrendts, left the company on 30 April after eight years to take on a new role as Apple's new retail chief.

As of 1 May, Christopher Bailey will be in charge of both chief creative officer duties as well as Chief Executive Officer, in addition to being named director of Burberry. Last November, the luxury fashion company created a new position of chief design officer, which was filled by Burberry veteran Luc Goidadin, to ease Christopher's Bailey workload following Ahrendt's exit from the company.

Burberry first revealed Ahrendts departure from the company last October, which was received with mixed reactions from industry insiders. On Friday, Tim Cook from Apple announced that her exit from Burberry was set to occur sometime this week, as investors and analysts alike began following Burberry and its shares closely to see how her exit will effect the luxury fashion company.

Earlier this month, Burberry posted revenues of 1.3 billion pounds in the six months to March 31, which was driven by double-digit percentage comparable sales growth in China and Korea and predicted that its 20-25 new stores will contribute to single-digit percentage growth in retail revenues during the year.