The Business of Fashion 11|07|2016

Marco Gobbetti Named CEO at Burberry; Christopher Bailey to Become President

British luxury brand Burberry has announced that current chief creative officer and chief executive Christopher Bailey will become the company's chief creative officer and president, handing over the title of chief executive to Céline’s Marco Gobbetti, as part of an ongoing business review.

Bailey, who was appointed chief executive in October 2013 in addition to his duties as chief creative officer, will add the newly created title of president and oversee all elements of brand and design, working in partnership with Gobbetti, who will join the company next year. Shares in Burberry jumped 7.9 percent on the news, their strongest day in three years.