Burberry Chief Operating Officer Will Leave Next Year.
Last Friday,
British luxury brands
Burberry said in a statement that the company's chief operating officer, John Smith, will be leaving in the summer of next year and has been a chief operating officer since March 2013 John Smith, and has served as a non-executive director.
John Smith revealed that he was seeking executive positions in international fashion companies, but did not disclose specific company names.
For the company CEO and chief creative director Christopher Bailey, the leadership vacuum is his recent frustration. Christopher Bailey has been trying to cope with the downturn by cutting costs and improving sales.
Luxury goods
Demand and profits slide.
In the past year, the stock price plummeted by 35%. Analysts, including Retail Remedy's Paul Thomas, have asked the company to appoint an experienced manager to assist the CEO.
The LucaSolca analysis of the Bank of Paris in France said that the departure of John Smith meant the possibility of further changes in the senior positions of the company.
Burberry
Management adjustment is needed because the development of the organization under the leadership of Christopher Bailey does not seem ideal and its performance has not improved.
Christopher Bailey said last month that the company has identified the need to strengthen its organizational management functions.
But the company refused to provide specific time points or new posts.
John Smith is the latest management change in the troubled fashion industry.
On Thursday, Ralph Lauren hired Coach chief financial officer. The struggling German garment manufacturer Hugo Boss promoted its chief financial officer to manage change last month, and Gianni Versace also replaced CEO this month.
Kai Yun group
The former CEO Jonathan Akeroyd of its Alexander McQueen.
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