Burberry CEO Marco Gobbetti to step down by year-end

Burberry has announced that its chief executive officer Marco Gobbetti is to leave the company at the end of 2021. The company said in a release that Gobbetti, who has led the transformation of Burberry’s brand and business, will be stepping down after nearly five years to take up another opportunity that will enable him to return to Italy and be closer to his family.

Commenting on the development, Gerry Murphy, Burberry’s chairman, said: “I would like to thank Marco for his partnership and the immense contribution he has made to Burberry. He has had a transformative impact and established a clearly-defined purpose and strategy, an outstanding team and strong brand momentum.

“The board and I are naturally disappointed by Marco’s decision but we understand and fully respect his desire to return to Italy after nearly 20 years abroad.”

Burberry CEO exits after almost five years

The company added that its board will now begin the search for Gobbetti’s successor, who is expected to remain with Burberry until the end of the calendar year. In that time, he will work with Murphy to provide full support to the executive leadership team on an orderly transition.

“It has been an incredible privilege to serve as Burberry’s CEO and lead such a hugely talented team. As a group, we have elevated and strengthened the brand and the business, while continuing to be a force for good. With Burberry re-energised and firmly set on a path to strong growth, I feel that now is the right time for me to step down,” added Gobbetti.