Mulberry chair Godfrey Davis to step down, successor announced

Mulberry chair Godfrey Davis is stepping down at the end of September, the luxury handbag maker announced Tuesday.

Davis first joined the British label in 1987 as finance director before moving his way up the ranks to become joint chief executive officer and chair in 2002.

“It has been a privilege to hold the position of chairman of this iconic British luxury brand,” Davis said in a release. “Over the past decade Mulberry has continued to innovate and thrive, resonating with a growing global consumer base that desires sustainable, quality craftsmanship.”

Davis added that he’s stepping down with the business in a “strong” financial position.

Indeed, like much of the luxury sector, Mulberry has rebounded well from the pandemic as deep-pocketed tourists splash out post-lockdown.

In the year to April 2, the company reported a 32 percent year-over-year increase in revenue to 152.4 million pounds, while it made a profit before tax of 21.3 million pounds, up from 4.6 million pounds.

Looking at more recent trading, Mulberry’s revenue for the first 12 weeks of the new financial year was 5 percent ahead of the prior year.

Mulberry names new chair

The company thanked outgoing chair Davis for his “outstanding contribution” to the business, and added that he will remain at the brand “as life president” in a non-board role “to continue to allow the group to benefit from his extensive experience”.

Andrew Christopher Roberts, currently a non-executive director at Mulberry, will take up the position of non-executive chairman from September 30, at which point he will resign from the audit and nominations and remuneration committees of the board.

Roberts joined Mulberry’s board in 2002 and has experience across the branded luxury hospitality sector and global financial markets. He is currently managing director of Como Holdings (UK) Ltd.

Mulberry said it plans to appoint an additional independent non-executive director and name a senior independent director in the near future.

Incoming chair Roberts said: “Mulberry is a unique business that has continued to evolve while staying true to its heritage as a sustainable luxury brand.

“I would like to thank Godfrey for his terrific service to the group, and I am looking forward to working more closely with the board and management to continue to drive forward our strategy.”