Burberry Was Replaced By CEO.

Recently, the performance of British luxury brand Burberry has been frustrated, and Christopher Bailey, who was originally selected as CEO and creative director, has been questioned and will step down in advance, but will continue to be the creative director.

Asked why Christopher Bailey was first held in the two place.

John Peace admitted that the group was worried about losing the excellent creative director to her competitors, and Christopher Bailey was also very keen on the position.

John Peace refers to the excellent performance of Christopher Bailey as a dual position. The company's replacement of new CEO this week is out of consideration for the future of the group, not because Christopher Bailey has not done well in the past.

However, the performance figures illustrate everything.

The profits of Burberry group have declined for second consecutive years. As of the first quarter of June 30th, turnover fell by 3% to 423 million pounds. It is expected that wholesale income of clothing and cosmetic products will not increase. It is facing the problem of continuous loss of consumers. The group's share price has fallen by more than 20% since Christopher Bailey took over CEO, and lost to other luxury group counterparts.

Christopher Bailey is in office, Burberry

In order to cater for young people, the continuous adoption of new technology has pformed itself into a media company. However, at present, there are few good products in the group.

Insiders have accused Christopher Bailey, the group's CEO, completely ignores the changes that have taken place in consumers over the past few years, and has not restored market performance in this field.

Fashion retailers generally believe that the combination of two functions of creativity and core management into one position is quite bold and risky.

In a May interview with the financial times, a major shareholder of Burberry group said: "at the beginning, Burberry group did not expect Christopher Bailey's dual status to have a negative impact on the brand. In fact, they should let Bailey focus on their best design, and double liability has brought too many constraints to him."

At the investor meeting, Burberry group announced new business strategy and austerity plan to deal with the shrinking demand for luxury goods. Christopher Bailey and Marco Gobbetti will jointly operate the group business. They report to John Peace in parallel. In addition, the group's chief financial officer Carol Fairweather and chief operating officer John Smith announced the resignation of the two positions.

John Peace also responded to questions about Christopher Bailey and Marco Gobbetti two co operation companies. He said Christopher Bailey had reported to Burberry CEO CEO and managed side by side. He pointed out that a luxury group is a common operation by a management team.

John Peace added that although the British media questioned the decision to let Christopher Bailey join CEO as a wrong decision, I still feel that he is suitable for the position. At present, there is no change plan for the group, and my position will continue.

However, at the annual meeting of the group held on Thursday,

Group shareholders passed 21 resolutions, including the re vote to decide whether John Peace will continue to serve as the chairman of the group. Some analysts said it was obvious that the chairman of Burberry group was under internal pressure and did not rule out the possibility of stepping down.

After the news, Burberry group fell 2.3% on Thursday local time.