Stacey Cartwright, chartered accountant and finance director at luxury fashion label Burberry, has decided to step down amid a management overhaul.
Despite the recent appointment of John Smith, former head of BBC worldwide, as the group’s first chief operating officer, Cartwright’s decision to quit last week sent company shares plummeting by more than 6%.
Cartwright, who has been in the job for nine years but is now off to “pursue new interests”, will be replaced by accountant Carol Fairweather who has been with Burberry for six years and will take up the position ahead of the group's AGM in July.
Angela Ahrendts, chief executive of Burberry, said:
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