Burberry is actively looking for a new member of the board who could potentially take over the position of chairman currently held by Gerry Murphy since 2018.
The high-end retailer has enlisted the help of headhunters to identify two new non-executive members who could be considered as potential replacements for the chairman, as reported by Sky News.
While there is no set timeframe for Murphy’s departure, sources have indicated that the search process is essentially underway to find his successor.
A source in the luxury goods industry commented: “They have made it clear that the position is open for the right individual.”
In recent developments, Burberry appointed former Michael Kors executive Joshua Schulman to take over from former CEO Jonathan Akeroyd, who resigned “by mutual agreement with the board.”
The transition, effective immediately, coincided with the company’s announcement of lower-than-expected annual profits following a 20% drop in first-quarter sales.
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