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Burberry Replaces CEO as High-End Push Falters

The British trench coat maker has named Joshua Schulman its new chief executive, replacing Jonathan Akeroyd, as its latest attempt to push upmarket fails.
Burberry Group Plc replaced its chief executive officer and suspended its dividend after a downturn in the luxury industry thwarted the British trench coat maker’s effort to challenge high-end labels such as Chanel and Louis Vuitton.
Burberry Group Plc replaced its chief executive officer and suspended its dividend after a downturn in the luxury industry thwarted the British trench coat maker’s effort to challenge high-end labels such as Chanel and Louis Vuitton. (Getty)
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Jonathan Akeroyd is departing after less than two-and-a-half years at the British company, and will be replaced by Joshua Schulman, a former CEO of Michael Kors, Coach and Jimmy Choo. The share price, which had nearly halved since Akeroyd took charge in April 2022, fell more than 10 percent in early London trading.

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Further Reading

Does Burberry Have the Wrong Strategy?

The British trench coat maker’s latest revamp has faltered. Some point to executional errors, but Burberry may need to rethink its strategy and become a ‘British Coach,’ writes Luca Solca.

Is Burberry a Victim of Its Own Strategy?

After a decade of turnaround attempts, the British trenchcoat maker’s efforts to thrive as a top luxury player continue to falter. The brand needs more accessible prices and marketing — and quick.

Burberry Sales Fell 12 Percent in Early 2024

The brand isn’t the only one struggling in a cooling luxury market, but the weak numbers increase pressure on CEO Jonathan Akeroyd to deliver Burberry’s long-awaited turnaround.

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