Fed Chair Kevin Warsh Launches Task Forces to Overhaul U.S. Monetary Policy Framework 
Japan Wholesale Inflation Jumps as Energy Shock Drives Import Costs Higher 
Venezuela Earthquake Death Toll Climbs to 3,811 as Government Seeks Sanctions Relief 
Dollar Slips After Fed Minutes as Iran Tensions, Inflation Risks Keep Markets Cautious 
Oil Prices Slip but Stay on Track for Weekly Gains as U.S.-Iran Conflict Persists 
Gold Prices Slip as Stronger Dollar, Fed Rate Outlook Weigh on Bullion 
Oppenheimer Sees CNH Industrial as Top 2026 Agriculture Stock Pick on Dealer Consolidation Strategy 
Sino Biopharm Stock Rises After AstraZeneca Licensing Deal, GSK Partnership Expansion 
US Stock Futures Steady as Oil Prices Ease, Iran Talks Boost Market Sentiment 
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI 
Dollar Slips as Oil Prices Ease, Fed Rate Outlook Remains Uncertain 
Goldman AM Sees Strong Buyout Opportunities in Japan, South Korea and Australia 
SK Hynix’s $28B U.S. IPO Draws Strong Demand as AI Chip Boom Fuels Investor Interest 
Levi Strauss Raises 2026 Outlook After Q2 Earnings Beat, Shares Drop Despite Strong Results 
Japan Regional Bank Stocks Drop After Zentoshin Bankruptcy Sparks Credit Risk Concerns 
Fast Retailing Raises Full-Year Forecast After Uniqlo Owner Beats Q3 Profit Estimates 
SK Hynix’s $28 Billion U.S. Share Sale Draws Massive Demand Amid AI Chip Boom 
Burberry’s chief executive officer, Marco Gobbetti, has resigned and will be moving back to Italy to lead the company’s fashion business rival, Ferragamo. His exit from the British luxury fashion brand comes as the company is said to be undergoing a revamp.
Gobbetti’s resignation
Reuters reported that Gobbetti was credited for Burberry’s increase in market value. Under his leadership, he was able to boost the number by a third after taking the brand further upmarket.
Now, since he has done a lot to bring the label up, it was said that there are concerns that his resignation will undo some of the progress he made for the company.
In fact, it was said that after his departure from Burberry was announced, shares of the company plummeted by as much as 10% in early trade. On the other hand, shares in the company where he will move to, which is Ferragamo, saw an increase by 2.3% in Milan.
The executives at Burberry admitted that they were disappointed with Marco Gobbetti’s resignation, but they respect his decision to leave. The company's chairman, Gerry Murphy, said in a statement, "The board and I are naturally disappointed by Marco's decision, but we understand and fully respect his desire to return to Italy after nearly 20 years abroad."
As for Gobbetti, he said he thinks this is the right time to go back to Italy. He added that he thinks he can step down now because Burberry is now on the right track. "With Burberry re-energised and firmly set on a path to strong growth, I feel that now is the right time for me to step down," he shared.
Burberry shares plummet with Gobbett’s departure
As Gobbetti moves to lead Salvatore Ferragamo in his home country, Burberry’s shares have decreased. As per CNN Business, this just shows that many want him to stay and continue directing Burberry to success, but he has made a decision now and chose to work on another brand that has been considered as Burberry’s rival.
Finally, it was added that Gobbetti made the decision because he wants to stay close to his family now. In any case, prior to helming Burberry, he has worked for LVMHF for 13 years as its CEO of Celine and Givenchy and Celine.
