It turns out Christopher Bailey wasn't cut out for running both the creative and the business sides of Burberry after all. He's spent nearly 15 years at the company, largely focused on transforming Burberry's aesthetic from it's stuffy British roots to a hip global brand. But in 2014, he took on the role of CEO.
At the time, our Jeff Chu sat down with Bailey to discuss his plans for the company. "You've got to push yourself and push yourself out of your comfort zone," he said. But perhaps he went a little too far out of his area of expertise, which is design. Things haven't gone well the last three years. The brand has seen three consecutive years of declining sales since he came on board.
He's now turning over the business side of Burberry to Marco Gobbetti, who was previously in the role of CEO at Celine, which is owned by LVMH. We'll have to see whether Gobbetti will be able to replicate the success of Angela Ahrendts, who was Burberry's CEO before she left for Apple in 2014.
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[Photo: NIKLAS HALLE'N/AFP/Getty Images] ES