 GUS will let Burberry walk on its own in December |
Shares in Burberry have dropped nearly 5% on rumours that its boss will step down once the firm has split from its majority owner, mail order firm GUS. Rose Marie Bravo will leave the luxury goods maker in July after the demerger takes place, according to a report in the FT.
Burberry said this was "speculation" but said that Ms Bravo's role would continue to "evolve".
Ms Bravo has been at the helm of Burberry for nearly nine years.
Driving force
During that time the company has grown from a struggling label into a major luxury brand with a five-fold increase in profits last year.
Rose Marie Bravo was previously president of Saks Fifth Avenue department stores in New York.
GUS plans to offload its 66% stake - worth over �1bn - by December, and concentrate on its Argos catalogue business and Homebase DIY stores.
"We have always said that Rose Marie Bravo's role was going to evolve over time and it had done over the last two years as we have built a world-class management team," said a Burberry spokeswoman.
GUS and Burberry are both scheduled to give trading updates next week. Shares in Burberry closed down 20.5 pence, 0.48%, at 404p on Thursday.
Ms Bravo was paid $3.7 million in salary and bonus last year.
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