Skip to Content

Burberry appoints a new CEO as the fashion house warns it expects a first-half operating loss

Associated Press

LONDON (AP) — British luxury fashion house Burberry has appointed Joshua Schulman as its new chief executive officer. The unexpected announcement came as the company warned it expected to record an operating loss in the first half of the year. Fifty-two-year-old Schulman was formerly head of Michael Kors and Coach. He replaces Jonathan Akeroyd, who the company says is stepping down and leaving the firm with immediate effect “by mutual agreement with the board.” Burberry said the luxury market was “proving more challenging than expected.” Burberry shares plunged more than 11% soon after markets opened Monday.

Article Topic Follows: AP National News

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

News Channel 3 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content