The hiring process for a new chair at Burberry has begun. According to Sky News, the high-end fashion label is collaborating with headhunters to identify a replacement for Gerry Murphy, who has served as the company’s chair since 2017.
Murphy, who also serves as Tesco’s chair, is expected to remain in his position this year, but the precise dates are still pending.
The announcement comes after rumours circulated last summer that Burberry was seeking a non-executive director to succeed Murphy.
According to sources, the quest for a new chair has become simpler. Burberry, which is continuing its strategic change to promote long-term growth, recorded a lower than anticipated 7 per cent fall in third-quarter retail revenue earlier this year.
The luxury retailer’s sales in the Americas increased by 4 per cent despite the difficulties in major countries, which helped counteract sales decreases of 9 per cent and 2 per cent in the Asia Pacific and EMEIA regions, respectively.
