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Burberry CFO, COO Julie Brown to Exit Next Year

A Burberry bag.
A Burberry bag. (Burberry)

After six years at the British house, Brown will step down from her roles as Burberry’s chief financial and chief operating officer at the end of the financial year on 1 April 2023.

Brown is leaving to pursue opportunities “outside of the luxury industry,” Burberry said in a statement, adding that a search for her successor is underway.

Brown helped steer the luxury house during a push to move its positioning more upmarket, as well as through a turbulent pandemic period, which hammered sales.

New chief executive Jonathan Akeroyd joined the company this year amid a multi-year attempt to reposition as a leather-goods driven luxury brand, which remains incomplete five years into the strategy put in place by predecessor Marco Gobbetti. Growth continues to trail sector leaders like LVMH, Chanel and Hermes.

”The CFO departure at this point seems like an outright setback,” Bernstein analyst Luca Sola wrote in a note to clients. Burberry shares fell 4 percent in early trading.

Akeroyd is expected to lay out his plans to boost sales when the house reports interim financial results in November. “Julie has played a key role in positioning Burberry for growth,” he said.

Learn more:

Burberry Chief Sticks to Strategy Amid Fresh Challenges

New CEO Jonathan Akeroyd intends to pursue the brand elevation strategy put in place by his predecessor, as Covid lockdowns hammer sales in the critical China market.

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