Burberry Group PLC Directorate Change (7928I)
June 21 2017 - 10:19AM
UK Regulatory
TIDMBRBY
RNS Number : 7928I
Burberry Group PLC
21 June 2017
Burberry Group plc - Board Changes
The Company is pleased to announce that Jeremy Darroch has been
appointed as Senior Independent Director (SID) with effect from 1
July 2017 replacing Philip Bowman who has held this role for a
number of years. Jeremy has been a Non-Executive Director since
February 2014 and is Chair of the Audit Committee. Philip, who has
remained a Director at the request of the Board to provide
continuity during a period of significant change, will step down
from the Board on 31 October 2017.
It will be the responsibility of Jeremy Darroch as the newly
appointed SID to lead the process of appointing a successor to Sir
John Peace. It is anticipated that a successor will be announced by
the end of 2018.
Luxury retail expert Ron Frasch has been appointed to the Board
as a Non-Executive Director and member of the Remuneration and
Nomination Committees, with effect from 1 September 2017. Ron
previously held the positions of President and Chief Merchandising
Officer, and Vice Chairman of Saks Fifth Avenue Inc. between 2004
and 2013, and was Chief Executive Officer of Bergdorf Goodman Inc.
between 2000 and 2004, as well as holding senior positions with
other luxury brands. Ron is currently an operating partner of
Castanea Partners Inc. a private equity company which is
principally focused on investing in branded consumer products and
services. He is also a Non-Executive director of Crocs Inc. a
NASDAQ company which manufactures innovative casual footwear.
Sir John Peace, Chairman, said:
"On behalf of the Board I would like to welcome Jeremy to his
new role and to thank Philip for his immense contribution to
Burberry since the IPO in 2002. The Board and I have greatly
appreciated Philip's wise counsel and he will be missed by us
all.
We are delighted to welcome Ron to the Board. His great
understanding of product and broad experience of working with a
wide range of luxury brands will be a great asset to Burberry as we
continue to focus on delivering long term shareholder value."
The Company confirms there is no further information to be
disclosed pursuant to LR 9.6.13.
21 June 2017
Enquiries
Investors and analysts
Charlotte Cowley VP, Investor Relations 020 3367 3524
Media
Andrew Roberts VP, Corporate Relations 020 3367 3764
Caroline Daniel Brunswick 020 7404 5959
Paul Raeburn Brunswick 020 7404 5959
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
are subject to a number of risks and uncertainties that could cause
actual results to differ materially from any expected future
results in forward-looking statements. Burberry Group plc
undertakes no obligation to update these forward-looking statements
and will not publicly release any revisions it may make to these
forward-looking statements that may result from events or
circumstances arising after the date of this document. Nothing in
this announcement should be construed as a profit forecast. All
persons, wherever located, should consult any additional
disclosures that Burberry Group plc may make in any regulatory
announcements or documents which it publishes. All persons,
wherever located, should take note of these disclosures. This
announcement does not constitute an invitation to underwrite,
subscribe for or otherwise acquire or dispose of any Burberry Group
plc shares, in the UK, or in the US, or under the US Securities Act
1933 or in any other jurisdiction.
BURBERRY, the Equestrian Knight Device and the Burberry Check
are trademarks belonging to Burberry which are registered and
enforced worldwide.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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