Burberry CFO to take leave of absence after unscheduled surgery

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Kate Ferry, CFO of Burberry Group Plc, will be temporarily absent from work as a result of an unanticipated surgical procedure, the company announced. As announced by Burberry in a release on Wednesday, Ferry is anticipated to resume her normal duties in June. She joined the British fashion giant just last year. No other information about her health or the procedure was shared.

Before joining Burberry, Ferry was McLaren Group’s chief financial officer, where she oversaw financial strategy and investor relations and helped shape the company’s entire direction. Ferry was the chief financial officer at TalkTalk Telecom Group Plc before she joined McLaren. Also, she is on the board of directors at Greggs Plc as an independent non-executive director.

Ferry became Burberry’s chief financial officer after Julie Brown left to work for the British pharmaceutical company GSK Plc. A major decline in January’s earnings prediction, attributable to reduced demand for luxury products, especially in the US, is emblematic of the difficulties Burberry has encountered in recent months. The outcome is a 55% drop in the value of the company’s stock in the last year.

Despite all of this, Burberry is currently implementing a turnaround plan spearheaded by CEO Jonathan Akeroyd. In spite of the obstacles, the firm is determined to use the current market conditions as a springboard to adopt strategic actions that will make it stronger in the end.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

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