Luxury goods group Burberry has shaken up its senior management team, replacing its chief financial officer and creating the new role of chief operating officer.
The firm said Stacey Cartwright, who has been chief financial officer since 2004, is stepping down “to pursue new interests”. She will be replaced by Carol Fairweather, its senior vice-president of group finance and a former finance director at News Corp’s newspaper arm, News International.
At the same time, Burberry said it was creating a new chief operating officer role “to support the next phase of growth”.
That job will be filled by John Smith, another former media executive. Smith was most recently chief executive of BBC Worldwide, which sells content made by the broadcaster to other countries.
Burberry chief executive Angela Ahrendts said: “His exceptional global brand and media expertise, together with his track record in finance and operations, will be invaluable as we continue to combine proven strategies and innovative execution to drive growth in the mobile digital age.”
The group shocked investors last September when it warned of a slowdown in spending, especially in the key luxury goods markets of Asia, but subsequent statements have been more positive, with Christmas sales beating expectations.