Burberry's boss steps down as group faces slump to first half operating loss
Luxury fashion firm Burberry has said boss Jonathan Akeroyd has left after just over two years in the job as the group warned it was set to tumble to a half year loss. The group said Mr Akeroyd had left with immediate effect “by mutual agreement with the board” and will be replaced by former Michael Kors boss Joshua Schulman, who will take on the post on July 17.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. Here
00:07are your headlines for this morning. The luxury fashion firm Burberry, said its boss Jonathan
00:13Aykroyd, has left after just over two years in the job. As a group warned, it was set
00:18to tumble to a half-year loss. The group said Mr Aykroyd had left with immediate effect
00:24by mutual agreement with the board and will be replaced by the former Michael Coors boss
00:30Joshua Shulman, who will take on the post on July 17th. Burberry made the unexpected
00:37announcement as it warned it would slump to a first-half operating loss if retail sales
00:42continued at the current pace, having fallen by 21% on a same-store basis in its first
00:49quarter to June 29th. So a major update this morning from Burberry. The boss of Burberry,
00:56Jonathan Aykroyd, has left after just over two years in the job. My name is Greg Wright.
01:02I'm the Deputy Business Editor of the Yorkshire Post.