Information  X 
Enter a valid email address

Burberry Group PLC (BRBY)

  Print      Mail a friend       Annual reports

Monday 11 July, 2016

Burberry Group PLC

Directorate Change

RNS Number : 8401D
Burberry Group PLC
11 July 2016
 

 

Julie Brown appointed as new Chief Operating & Financial Officer

 

Burberry today announces that Julie Brown has been appointed to the new role of Chief Operating & Financial Officer.  The appointment is one of a series of changes to the Burberry senior team and forms part of the business review that is targeting future growth opportunities in retail, product and digital enabled by changes to ways of working.

 

It was also announced today that Christopher Bailey will take on the new role of President and Chief Creative Officer overseeing all elements of brand and design working in partnership with the newly appointed Chief Executive Officer, Marco Gobbetti, on company strategy and culture.  

  

Reporting to the Chief Executive Officer, Julie Brown will join the business and the Board in early 2017 at the latest and will have responsibility for finance, Investor Relations, IT, global business services and business transformation.

 

Julie is currently Chief Financial Officer at the global medical technology business Smith and Nephew plc.

 

Julie qualified with KPMG before working at ICI and AstraZeneca plc, where she served as Vice President Group Finance, VP Corporate Strategy and ultimately, as Interim Chief Financial Officer.   She has a proven track record of delivering multi-billion dollar cost saving and restructuring programmes in Commercial, Operations and R&D.   Julie also has experience of leading commercial teams in Established and Emerging markets, delivering significant revenue growth and margin expansion.   She is also a Non Executive Director and the Audit Committee Chair of Roche Holding Ltd.

 

Christopher Bailey said: "I am very pleased to be announcing the appointment of Julie Brown as Chief Operating and Financial Officer.  This is an important new role combining a number of functions together with oversight of our ways of working efficiencies.  Julie has an incredibly strong financial track record, as well as extensive experience of leading businesses through major transformation programmes, and is therefore very well qualified to take responsibility for this important and ongoing initiative."

 

Burberry Chairman Sir John Peace said "I am thrilled that Julie Brown is joining the team at this pivotal time.  With Julie's appointment, we have an individual who has an outstanding track record in the commercial and financial aspects of a global business as well as business transformation.

 

Having played a central role in the development of Burberry's ongoing business review, Chief Financial Officer, Carol Fairweather, has decided that she will leave the business to pursue new opportunities.  She will help to manage the transition following Julie's arrival stepping down from the Board by the end of January 2017 and leaving the company at the end of the financial year.

  

Christopher Bailey said "After ten very successful years at Burberry, Carol has decided to leave the company.  Carol is someone who I admire enormously. Her energy, intellect, passion and commitment have been extraordinary and I consider us fortunate that she has been an integral part of the senior leadership team leading the global finance function. 

 

She has been a magnificent partner to me personally and I am very pleased that she will remain with us through this transition."

 

Sir John Peace added "On behalf of myself and the Board, I would like to say a huge thank you to Carol for the immense contribution she has made to Burberry over the last ten years, and wish her every success in the future."

 

The information communicated herein is inside information.

 

Additional information

 

Further information on Christopher Bailey and Marco Gobbetti's roles can be found at www.burberryplc.com.

 

About Julie Brown

 

Julie Brown is Chief Financial Officer of the global medical technology business Smith & Nephew plc. Julie joined Smith & Nephew in February 2013.

 

Julie is a Fellow of the Institute of Chartered Accountancy and Fellow of the Institute of Taxation. She qualified with KPMG before working at ICI and AstraZeneca plc, where she served as Vice President Group Finance, and ultimately, as Interim Chief Financial Officer.

 

While at AstraZeneca, Julie undertook Commercial and Strategic roles and was Regional Vice President of Latin America, President of Portugal, and Vice President of Corporate Strategy and CFO R&D. She has broad international experience, encompassing many areas of the healthcare value chain.  Julie has also led several multi-billion dollar cost saving and restructuring programmes in Commercial, Operations and R&D.

 

Julie is a member of the Board of Directors of Roche Holding Ltd and Chair of the Roche Audit Committee. She has also fulfilled two Non-Executive Directorships with the NHS in the UK and the British Embassy in Portugal.

 

Julie has a first class honours degree, BA in Social Sciences, from Warwick University and has studied the Advanced Management Programme at INSEAD, Paris. She is married with two children.

 

There is no further information required to be disclosed pursuant to paragraph LR 9.6.13R of the Listing Rules of the Financial Conduct Authority.

 

Remuneration

 

Burberry's current Remuneration Policy is listed on pp85-92 of the Annual Report.

 

·    Base salary of £700,000

·    Annual cash allowance of £30,000

o Covering car allowance, clothing

·    Annual bonus opportunity of up to 200% of salary.

·    2016/17 share award under the Executive Share Plan maximum of 300% of salary.

·    Pension contribution of 30% and other benefits in accordance with the Remuneration Policy.

 

·    There will also be restricted shares granted as compensation for the incentives Y forfeited on leaving her previous employer. 

o 240,000 restricted shares will be granted, vesting in 2017 to 2020 (subject to continued employment).

o These do not have performance conditions attached

 

 

Enquiries

 

Investors and analysts


Fay Dodds

VP, Investor Relations

020 3367 3524

 

Brunswick



Julian Payne

VP, PR and Corporate Relations

020 3428 8975

 

Nick Claydon

Brunswick

020 7404 5959

Katherine Spence

Brunswick


 



 

Certain statements made in this announcement are forward-looking statements.  Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future results in forward-looking statements.  Burberry Group plc undertakes no obligation to update these forward-looking statements and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this document.  Nothing in this announcement should be construed as a profit forecast.  All persons, wherever located, should consult any additional disclosures that Burberry Group plc may make in any regulatory announcements or documents which it publishes.  All persons, wherever located, should take note of these disclosures.  This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Burberry Group plc shares, in the UK, or in the US, or under the US Securities Act 1933 or in any other jurisdiction.

 

BURBERRY, the Equestrian Knight Device and the Burberry Check are trademarks belonging to Burberry which are registered and enforced worldwide.

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
BOABDGDRISBBGLB

a d v e r t i s e m e n t