Burberry Ousts CEO After Profit Warning and Sales Slump
TL;DR
Burberry has replaced its CEO, Jonathan Akeroyd, with Joshua Schulman amid disappointing financial results and a significant downturn in the luxury market. The company reported a more than 20% drop in revenue for the latest quarter, suspended its dividend, and warned of potential operating losses. Burberry's shares fell 15% following the announcement.
Topics:top-newsbusiness#burberry#business#ceo-change#financial-performance#joshua-schulman#luxury-market
- Burberry Replaces C.E.O. Amid ‘Disappointing’ Results The New York Times
- Burberry’s CEO Change Is Its Latest Frock Horror Bloomberg
- Burberry shares drop 15% after the luxury giant issues profit warning and replaces CEO CNBC
- UK luxury brand Burberry gets another new boss to take it upmarket Reuters
- Burberry boss ousted as sales continue to fall BBC.com
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