Burberry has confirmed that its chief executive Marco Gobbetti is to step down at the end of 2021 after nearly five years in the role.
In a statement, the luxury brand said he will be taking up another opportunity that will enable him to return to Italy and be closer to his family.
Gerry Murphy, Burberry 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’s board has now begun a search for his successor.
Gobbetti said: “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. I would like to thank my colleagues as well as Gerry and the Board for their partnership. I am fully committed to supporting them through the transition and I have every confidence that the creativity and strong values that define Burberry will continue to drive the company’s future success.”
