Burberry boss Marco Gobbetti to step down after five years at helm

Departure of Italian credited with turning round British luxury fashion brand prompts share price plunge

• Analysis: end of partnership that kept Burberry at leading cultural edge

Marco Gobbetti has quit as chief executive of the luxury fashion brand Burberry after nearly five years in the role.

The British fashion brand said Gobbetti – who was charged with turning around the business when he took the reins in 2017 – was leaving to take a job in Italy that would allow him to be closer to his family. The luxury Italian group Salvatore Ferragamo, famous for making shoes worn by Hollywood stars such as Audrey Hepburn, announced on Monday it had appointed Gobbetti as its new chief executive.

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