BURBERRY’s CFO is to step down after nine years in the role.
Stacey Cartwright, who also serves as European vice-president, will stay on at the business until its AGM in July.
Carol Fairweather has been appointed as chief financial officer designate, and will take over from Cartwright upon her departure.
Fairweather has served at Burberry for six years, most recently as senior vice president, finance. She had previously held senior financial roles at News International and Shandwick.
Cartwright joined Burberry from Prudential’s then-internet bank Egg. A big part of her earlier role at Burberry was to help consolidate the business systems following its growth and IPO.
“I could be here forever listing the number of systems we had that didn’t talk to each other, and relied on someone to download a spreadsheet and convert it,” she told sister publication Financial Director in 2007.
She has been one of the few FTSE 100 female CFOs in recent years. Cartwright also holds non-executive role at GlaxoSmithKline.
Angela Ahrendts, chief executive officer, said: “We thank Stacey for her dedication, commitment and partnership as we have worked to transform Burberry in recent years and for her outstanding personal contribution to improving the operational and financial infrastructure of the company.”
Burberry’s share price fell 58.00p in this morning’s trading, to 1,372.00p, valuing the business at £6bn by market cap.
For more shares and markets data visit the Share Price Centre
FIFA finance chief Kattner fired after found to have paid himself bonuses amounting to millions
Ex-Compass Group FD Andrew Martin will chair the audit committee at FTSE 100 product testing company Intertek
Standard Life harbours serious concerns over appointment of EY as auditor to Royal Dutch Shell following BG Group deal
The most successful CFOs of promoter-led companies have gone way beyond traditional financial roles, becoming the founders’ right hand and thought partner on strategy, operations, stakeholder relations, and more