Gusbourne Regulatory News (GUS)

11 Oct 2005 12:00

Burberry Group PLC11 October 2005 BURBERRY APPOINTS ANGELA AHRENDTS AS CHIEF EXECUTIVE,ROSE MARIE BRAVO TO ASSUME NEW ROLE OF VICE CHAIRMAN London, 11 October, 2005. The Board of Directors of Burberry Group plc isdelighted to announce that Angela Ahrendts, 45, will be joining Burberry on 9thJanuary 2006 as an executive director and will become Chief Executive on 1stJuly 2006. Rose Marie Bravo, currently Chief Executive, will assume thenewly-created role of Vice Chairman at that time. In the interim period betweenJanuary and July 2006 Angela Ahrendts will report to Rose Marie Bravo to ensurea smooth transition of responsibilities, and thereafter to the Chairman and theBoard. Angela Ahrendts joins Burberry from Liz Claiborne Inc., one of the leadingapparel companies in the US, where she is currently Executive Vice President,responsible for womenswear and menswear brands with combined annual sales ofapproximately 40% of total company revenues. Included within the global brandsfor which she had responsibility are Ellen Tracy, Juicy Couture, DKNY Jeans,Lucky Brand and the company's men's businesses. At the corporate level, Angelahas been an integral member of the new business and strategic business teams.She has also led new product and category launches, international growth andinnovative supply chain initiatives for a number of key brands. Angela joinedLiz Claiborne Inc. in 1998 and she has been a key member of the executive teamthat diversified the corporation from 10 to 41 brands. Over the same period, thecompany's sales have risen from $2.5 billion to $4.6 billion and profits haverisen proportionately. Before joining Liz Claiborne Inc. Angela was ExecutiveVice President of Henri Bendel and spent six years as President of Donna KaranInternational where she honed her extensive luxury, wholesale, international,and licensing experience. Burberry Group plc Chairman John Peace commented: "Over the past eight years,Rose Marie Bravo has led Burberry through an extraordinary transformation whilstachieving excellent financial results. Rose Marie and I agree that the time isnow right for her role to transition to that of Vice Chairman. The appointmentof Angela Ahrendts brings diverse industry experience, strong leadership skills,strategic vision and proven brand management to the Chief Executive position andadds a further dimension to Burberry's accomplished executive team." Mr Peaceadded, "We conducted a thorough succession planning review for the ChiefExecutive position during which time Brian Blake, President Worldwide and ChiefOperating Officer, requested that he not be considered for the role due tofamily circumstances." Rose Marie Bravo, Chief Executive of Burberry Group plc, commented: "We arethrilled that Angela Ahrendts will be joining Burberry. The depth and breadth ofher experience and expertise within our industry complements the proven talentsof our existing management. With Angela now on board, joining Brian Blake andStacey Cartwright and the creative skills of Christopher Bailey, Burberry iswell-positioned to take the business forward as we enter the next stage ofdevelopment and growth." She added, "I so look forward to working with Angelaand the team." Commenting on her appointment, Angela Ahrendts said: "I am very excited to bejoining Burberry at this important stage of its development. Burberry is aunique global luxury brand with significant growth potential. I am very muchlooking forward to working with the team to take the business forward." Enquiries: Brunswick + 44 (0) 20 7404 5959 Susan GilchristRobert GardenerAlexandra Tweed Notes to Editors: Angela Ahrendts 1998 - 2005 Liz Claiborne Inc. 2002 - 2005 Executive Vice President Responsible for 22 brands across womenswear and menswear1999 - 2002 Senior Vice President of Corporate Merchandising and Group President for Modern Brands1998 - 1999 Vice President of Merchandising and Design 1996 - 1998 Executive Vice President of Henri Bendel Responsible for all departments including apparel, accessories, cosmetics and home 1989 - 1996 President of Donna Karan International Responsible for Donna Karan Collection, Donna Karan Signature, Donna Karan International and Donna Karan Licensing This information is provided by RNS The company news service from the London Stock Exchange