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Angela Ahrendts May Delay Burberry Exit Until Mid-Year

Angela Ahrendts May Delay Burberry Exit Until Mid-Year

Apple’s soon-to-be head of its retail division, Angel Ahrendts resigned from her CEO position with British fashion house Burberry back in October, and her six-month notice period is almost up. However, Ahrendts may stick around Burberry for awhile longer…

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The Guardian:

Ahrendts is free to leave Burberry this month, having worked her six-month notice period, but the American promised to stay on until the middle of this year to smooth a handover to her successor Christopher Bailey, currently chief creative officer. Remaining until 6 June would also allow her to collect two multimillion pound share bonuses relating to performance over the last few years.

“It’s a big sum of money. In some ways it would be good to see the business moving on after six months of handover time. You want to see clarity,” said Rahul Sharma, an analyst at Neev Capital.

However, Sharma noted that investors were also likely to feel reassured by Ahrendts’ continued presence ahead of some big moves for Burberry, and also said their are continuing concerns about Bailey’s ability to combine his creative role with that of a chief executive.

The Guardian also added that “the most likely reason no leaving date has been confirmed is that she is wrangling with Burberry and Apple over compensation for the payout in June.”

So yeah, it’s about the Benjamins… Or, I guess it’s the all about the quid in this case.

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