Burberry, Marco Gobbetti arrival spark another bonus outcry

For Burberry, this just passed, it has been Marco Gobbetti’s first week at the helm of the company. The Italian manager, formerly Celine, finally assumes the position of CEO, leaving Christopher Bailey as chairman and the freedom to devote exclusively to the brand’s creative direction. Gobbetti is in charge of handling a complicated situation. Co-ordinate the turnover in the executive assignments. The last change he sees Donald Kohler leaving the British group to become business manager for the Americas for Salvatore Ferragamo as of next September. Also, there is a tide of controversy over bonuses. After the controversy for Bailey’s bonus, the one on the indemnity recognised by Julie Brown, the company’s CFO, is over, for leaving the previous job. The names representing minority shareholders, The Investment Association and Institutional Shareholder Services, are ready to battle because of the managers’ bonuses. According to the Financial Times, Brown had already given up 1.6 million pounds, half the prize, to calm the minds, but investors are not enough.



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