- Prachi Singh |
Burberry has announced that Dr. Gerry Murphy has been appointed to the board as Chairman designate and that his appointment concludes the process initiated in June 2017 and led by Senior Independent Director Jeremy Darroch to name a successor to Sir John Peace by the end of 2018.
Commenting on Murphy’s appointment, Jeremy Darroch, Senior Independent Director, said in a statement: “We are delighted to welcome Gerry to the board. His substantial UK plc and global business experience will be a great asset to Burberry as we continue to focus on delivering long-term shareholder value. On behalf of the board, I would like to thank Sir John for his immense contribution to Burberry over the past 16 years. Sir John has presided over a period of extraordinary change, during which Burberry has enjoyed strong growth and evolved into one of the most valuable luxury brands in the world.”
Dr Gerry Murphy takes over as the new Burberry Chairman
The company added that Murphy will take on the new role on May 17 and will succeed Sir John Peace as Burberry Chairman after the company’s annual shareholder meeting on July 12. He will step down from the role and from the board on the same date after 16 years.
“I am honoured to take up this role and to succeed Sir John as Chairman. Burberry is a unique British brand that I have admired for a long time and I am looking forward to working with Marco Gobbetti and the Board to guide the Company through its next phase of growth,” added Murphy.
Murphy brings vast experience as Chair and senior board member to Burberry, having served as non-executive director of companies including British American Tobacco plc, Merlin Entertainments plc and Reckitt Benckiser plc. He is currently Chairman of Tate and Lyle plc and of The Blackstone Group International Partners LLP, Blackstone’s principal European entity. Before joining Blackstone as a senior managing director in its private equity group, he served as CEO of Kingfisher plc, Carlton Communications, Exel plc and Greencore Group plc.
Commenting on his departure from the company, outgoing Chairman Peace, added to the statement: "I would like to thank current and past board members for their partnership over the past 16 years and Jeremy Darroch for leading the process to find Burberry’s next Chairman. In Gerry Murphy, we have found a superb candidate with extensive experience in the consumer and retail industries. I am confident he is the right choice to lead the Board as Burberry embarks on a new chapter.”