Burberry reportedly seeking new chairman amid boardroom shake up

Days after the announcement that its former CEO was being replaced by Joshua Schulman, it is now being reported that Burberry is also seeking a possible successor to its current chairman, Gerry Murphy.

While an exact departure date for Murphy has not yet been cemented, it is believed that an “indirect hunt” has been launched in a bid to find someone to take his place, as alleged by sources for Sky News.

According to the media platform, the company is working with headhunters to bring forward two new non-executives to contend in the replacement of Murphy, who has held the chairman position of Burberry since 2018 and serves in the same position at supermarket giant Tesco.

The report comes just one week on from the revelation that Jonathan Akeroyd had been ousted from the CEO position, with Burberry instead turning to former Jimmy Choo head Joshua Schulman.

With the appointment, the struggling luxury retailer is hoping to turnaround its currently lacklustre financial performance that has led to a sales decline of 12 percent in the first quarter of 2024 and the scrapping of hundreds of jobs across the business.