Home Business NewsBusinessAngela Ahrendts to step down as Burberry CEO to join Apple

Angela Ahrendts to step down as Burberry CEO to join Apple

by LLB Editor
15th Oct 13 9:14 am

Burberry shares drop 5% this morning

Angela Ahrendts will step down as Burberry chief executive in the middle of next year to join Apple as senior vice president for retail and online stores.

Ahrendts said that she is โ€œprofoundly honouredโ€ to be joining Apple and that Burberry was in โ€œbrilliant shapeโ€.

She said: โ€œI have always admired the innovation and impact Apple products and services have on peopleโ€™s lives and hope in some small way I can help contribute to the companyโ€™s continued success and leadership in changing the world.โ€

Burberryโ€™s current chief creative officer Christopher Bailey will replace Ahrendts as chief executive officer.

Bailey said: โ€œWe have a clear strategy to build on. [โ€ฆ] Together, we will continue to push the boundaries of design, technology and communication while never forgetting our heritage, our Britishness and our values.โ€

Back in June, it was reported that Ahrendts was the highest-paid chief executive in Britain.

According to pay consultancy MM&K, she was paid ยฃ16.9m last year, almost ยฃ5m more than the UKโ€™s second highest-paid CEO.

Leave a Comment

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]