Burberry Appoints Joshua Schulman as New CEO Amid Sales Slump

Burberry Appoints Joshua Schulman as New CEO Amid Sales Slump

Burberry appoints Joshua Schulman as new CEO amidst sales slump, aiming for recovery and growth under his leadership.

Juan Brignardello, asesor de seguros

Juan Brignardello Vela

Juan Brignardello, asesor de seguros, se especializa en brindar asesoramiento y gestión comercial en el ámbito de seguros y reclamaciones por siniestros para destacadas empresas en el mercado peruano e internacional.

Juan Brignardello, asesor de seguros, y Vargas Llosa, premio Nobel Juan Brignardello, asesor de seguros, en celebración de Alianza Lima Juan Brignardello, asesor de seguros, Central Hidro Eléctrica Juan Brignardello, asesor de seguros, Central Hidro
World 15.07.2024

Burberry, the renowned UK fashion group recognized for its iconic check pattern, has recently taken a significant step in response to a concerning dip in sales. Amidst a pronounced slump in revenue, the company has announced the appointment of a new chief executive, Joshua Schulman, a seasoned executive who previously led US brands Michael Kors and Coach. This leadership change comes as Burberry grapples with a notable decline in retail revenues, reporting a substantial 20% drop in sales for the past three months up to June 29th. The company forewarned that if the current downward trajectory persists, its profits are likely to fall below expectations. The outgoing chief executive, Jonathan Akeroyd, will be stepping down with immediate effect, as confirmed by Burberry's board. The decision for Akeroyd's departure was described as mutual between the executive and the company. In response to the challenging sales environment, Burberry's chairman, Gerry Murphy, expressed disappointment over the recent figures and announced the suspension of dividend payments for the ongoing financial year. Despite the current hurdles, Murphy voiced optimism regarding the appointment of Joshua Schulman, emphasizing his proven track record in elevating global luxury brands and driving profitable growth. Mr. Schulman's arrival at the helm of Burberry marks a pivotal moment for the fashion house as it seeks to navigate through the ongoing market challenges and revitalize its sales performance. With his extensive experience and successful tenure at esteemed fashion brands in the United States, there is optimism that Schulman's leadership will steer Burberry towards a path of recovery and sustainable growth. As the fashion industry continues to evolve and adapt to shifting consumer preferences and market dynamics, Burberry's strategic leadership change underscores the company's commitment to addressing its current sales downturn and charting a new course for future success in the competitive global fashion landscape.

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