Burberry Names New CEO

Burberry Names New CEO

British fashion house Burberry have appointed Versace’s boss Jonathan Akeroyd as their new CEO after Marco Gobetti stands down.

Akeroyd has apparently been given a “golden hello” of $6 million in order to cover the expenses occurred from leaving his position at Versace.

The 54-year-old has been the boss of Versace since 2016, and oversaw the $2.1 billion sale of the brand to Micheal Kors.

Burberry’s outgoing CEO, Gobbetti, is due to leave Britain’s biggest high fashion brand to take the top job at luxury Italian group Salvatore Ferragamo at the end of the year, according to The Guardian.

Akeroyd who also spent 12 years at Alexander McQueen and helped guide the brand through the turmoil of losing the brands founder.

“I have long admired Burberry’s position as the most iconic British luxury brand and I have a deep affection for its storied heritage,” said Akeroyd. “I am looking forward to returning to London where I first built my career with ambitious plans for the future.”

The $6 million “golden hello” will be made up fo cash and shares of the company.

He is also set to be paid a base salary of £1.1m, with a maximum annual bonus worth up to 200% of his base, and a share plan worth 162.5% of annual salary.

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