Burberry change of guard continues with appointment of new CFO

Burberry has appointed Kate Ferry, formerly of McLaren Group, as its new CFO as the British luxury house continues to form the top team to delivery on the new vision for 'Modern British Luxury' outlined by its new CEO Jonathan Akeroyd.

Ferry has been Chief Financial Officer at McLaren for the past two years where she has overseen financial strategy and investor relations and has supported the broader strategic development of the company. Prior to that she was at TalkTalk Telecom and is currently an independent non-executive director of Greggs.

She will succeed Julie Brown, currently Burberry Chief Operating and Financial Officer, who leaves the business on 1 April. Ian Brimicombe, currently SVP, Specialist Finance and Projects at Burberry, has been appointed Interim Chief Financial Officer from 2 April and will join Burberry’s Executive Committee from that date.

Ferry's appointment follows that of Akeroyd, formerly of Michael Kors and Versace owner Capri Holdings, who arrived at Burberry in March of last year replacing Marco Gobbetti, who left the business to join Italian brand Salvatore Ferragamo. Following the arrival of Akeroyd, former creative chief Riccardo Tisci stood down to be replaced by British designer Daniel Lee, who presented his first collection for the house at London Fashion Week last month. Lee had made his name at LVMH's Bottega Veneta, where he modernised the brand with his bold, bright and distinctive footwear and handbags.

Daniel Lee for Burberry

Akeroyd announced his new vision for Burberry last November saying he wanted to focus on its Britishness and luxury credentials. He said of the appointment of Ferry: “I am very pleased to announce Kate’s appointment as Chief Financial Officer. Kate has extensive experience of public markets, business transformation and development and an excellent understanding of the luxury industry. She is a strong addition to our leadership team and I am excited about her joining to support this next phase of Burberry’s development.”

Chair Gerry Murphy added: “I’m delighted that Jonathan has recruited Kate to our top team. I’m very confident that she has the energy and experience to support the delivery of our ambitious plan, announced last November by Jonathan, to realise Burberry’s potential in Modern British Luxury. I also want to take this opportunity to thank Julie for her professionalism and her enormous contribution to Burberry’s progress over the last six years, and to wish her every success in her new role.”

Ferry said she was "thrilled to be joining Burberry at such an exciting time in the company’s development. I look forward to working closely with Jonathan and the rest of the Burberry leadership team to help realise the full potential of this iconic British luxury brand."