Luxury clothing firm Burberry today unveiled a management shake-up, replacing its finance boss and creating a chief operating officer’s position.
Stacey Cartwright, chief financial officer since 2004, will step down at Burberry’s annual general meeting in July and be replaced by company insider Carol Fairweather. A former finance director of News international, Fairweather has been with the firm for six years.
At the same time, Burberry said it was creating a role “to support the next phase of growth”. That job will be filled by John Smith, another former media executive. He was most recently chief executive of BBC Worldwide, which sells content made by the broadcaster to other countries, and has been a non-executive director at Burberry since December 2009.
The company said Smith will focus on driving the retailer’s presence in digital media and mobile technology as well as looking to save costs and re-allocate resources.
Smith said: “Having had the chance to develop one great British brand on the global stage, it is my privilege now to begin a new chapter at another.”