Angela Ahrendts, the chief executive who rescued Burberry, is leaving the fashion house for a new job at Apple. Next spring she will take up a newly created role overseeing the expansion of Apple’s retail stores. She will be replaced at Burberry by Christopher Bailey, who will keep his post as chief creative officer.
Her departure comes amid growing concern about the number of female executives at the top of British business. There are just two women in charge of the largest UK-listed companies: Alison Cooper at Imperial Tobacco and Carolyn McCall of EasyJet.
Ms Ahrendts, who was the highest-paid chief executive in the FTSE last year with a total package worth £16.9 million (€19 million), said she was honoured to be joining Apple.
She also paid tribute to colleagues, describing Burberry as a truly great company: “Burberry is in brilliant shape, having built the industry’s most powerful management team, converted the business to a dynamic digital global retailer [and] created a world-class supply chain, state-of-the-art technology infrastructure, sensational brand momentum and one of the most closely connected creative cultures in the world today.”
Mr Bailey said that he was moved and humbled to take on the role. “Whilst I am sad no longer to have the inspirational leadership of Angela, who has been an absolute joy to work with, I feel more than confident that part of her legacy is an enormously strong team in all of our areas,” he said.
Tim Cook, the chief executive of Apple, said that he was thrilled Ms Ahrendts would be joining his team. “She has shown herself to be an extraordinary leader throughout her career and has a proven track record.”
Shares in Burberry fell 5.5 per cent at the start of trading, down 93p to £14.92.
– (Guardian service)
