Burberry is kicking off a proper seek for a brand new chairman almost a 12 months after putting in the newest in a string of chief executives charged with reviving the posh style model.
Sky Information understands that Burberry is working with headhunters on a hunt for Gerry Murphy’s successor.
Mr Murphy, who additionally chairs Tesco, will not be anticipated to step down this 12 months, though the exact timing has but to be formally decided, in accordance with insiders.
Final summer time, Sky Information reported that Burberry had commenced a seek for a non-executive director able to taking on from Mr Murphy in the end.
That mandate is now mentioned to have developed right into a extra easy hunt for a brand new chair, sources steered.
Planning for his departure comes as Burberry and different luxurious items producers grapple with the uncertainty of swingeing tariffs amid an escalating worldwide commerce struggle.
The corporate is now being run by Joshua Schulman, the previous Jimmy Choo boss, who was drafted in final July to arrest its decline.
Mr Schulman changed Jonathan Akeroyd, who left within the wake of a string of revenue warnings.
Shares in Burberry closed on Tuesday at 738.8p, giving it a market worth of about £2.6bn.
The inventory is down by greater than a 3rd over the past 12 months.
A spokesperson for Burberry mentioned: “In the normal course of business, we look at succession planning for board roles as they reach term.”
