Burberry’s stock slumped 8% after the group’s CEO unexpectedly announced his departure to join the Italian peer group Salvatore Ferragamo.
Although Marco Gobbetti will remain with Burberry until the end of FY21 and support the executive team through the transition, his departure at Burberry’s most critical turning point is likely to make the brand’s turnaround more challenging and slow it down.
28 Jun 2021
The unexpected departure of Marco Gobbetti
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The unexpected departure of Marco Gobbetti
Burberry Group plc (BRBY:LON) | 1,158 86.8 0.7% | Mkt Cap: 4,151m
- Published:
28 Jun 2021 -
Author:
Jie Zhang -
Pages:
3
Burberry’s stock slumped 8% after the group’s CEO unexpectedly announced his departure to join the Italian peer group Salvatore Ferragamo.
Although Marco Gobbetti will remain with Burberry until the end of FY21 and support the executive team through the transition, his departure at Burberry’s most critical turning point is likely to make the brand’s turnaround more challenging and slow it down.