Burberry: Christopher Bailey will be an "unconventional" CEO

|About: Burberry Group Plc ADR (BURBY)|By:, SA News Editor

Burberry (BURBY.PK +1%) tells investors incoming CEO Christopher Bailey will take an "unconventional" approach, Financial Times reports. Bailey, the designer credited with turning Burberry into a global luxury brand, will meet with a creative and executive team to determine how responsibilities will be divided once CEO Angela Ahrendts departs for Apple next year.

A source told the paper, "What he is not going to do is take his eye off the 8-ball in terms of all the creative stuff, which is so crucial to the company." The appointment is unprecedented, and investors' concerns sent shares tumbling 10% in 2 days before they started clawing back losses.