To ensure a seamless transition, Stacey will remain as EVP and Chief Financial Officer, and retain her position on the Board, until the conclusion of Burberry’s Annual General Meeting in July 2013.
Carol Fairweather is appointed Chief Financial Officer Designate with immediate effect and will become Chief Financial Officer on Stacey’s departure. She will report to the Chief Executive Officer.
Carol has been with the company for six years, most recently as Senior Vice President, Group Finance. She has a strong track record of success at Burberry, as an exceptional partner to the business and executive team. Prior to joining Burberry, Carol held senior finance positions at News International Limited and Shandwick plc.
Angela Ahrendts, Chief Executive Officer, commented: “We thank Stacey for her dedication, commitment and partnership as we have worked to transform Burberry in recent years and for her outstanding personal contribution to improving the operational and financial infrastructure of the company. We wish her well in the future.
We are delighted that one of her key partners, Carol Fairweather, will succeed her in the role of Chief Financial Officer. Carol’s deep understanding of the Burberry business and brand, coupled with her strong leadership and financial skills, position her uniquely to drive continued success in this role, while ensuring a seamless transition.”
Sir John Peace, Chairman, commented: "Carol’s appointment demonstrates the talent that exists within Burberry’s senior team. Her track record of achievement in her six years with the business has been exceptional and we look forward to her continued contribution in this new role."