Burberry Appoints New CEO Amid Profit Warnings and Share Drop
TL;DR Summary
Burberry is replacing CEO Jonathan Akeroyd with Joshua Schulman after a disappointing quarter where sales dropped over 20%. The company issued a profit warning, scrapped its dividend, and saw its stock fall 17%. Burberry plans to refocus on high-end spenders and launch a new website in August to improve its competitive position and long-term growth.
- Burberry CEO is out after company warns about its profit CNN
- Burberry Replaces C.E.O. Amid ‘Disappointing’ Results The New York Times
- UK luxury brand Burberry gets another new boss to take it upmarket Reuters
- Burberry shares drop 15% after the luxury giant issues profit warning and replaces CEO CNBC
- Joshua Schulman Named CEO of Burberry, Replacing Jonathan Akeroyd WWD
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