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Burberry, a British luxury fashion brand, announced this week that it had appointed Kate Ferry as its new chief financial officer. On Wednesday, March 15, the company confirmed that the current CFO of Formula One and the McLaren Group is joining the firm to succeed Julie Brown.
Brown has stepped down from her CFO role at Burberry to move to GSK pharmaceutical company. She is set to make her exit on April 1 which will end her more than six years of tenure with the company.
In any case, with her new appointment, Ferry will start her work at the fashion house in early September. According to Reuters, while waiting for Ferry to officially join Burberry, Ian Brimicombe, the firm’s senior vice president of specialist finance and projects, will act as interim CFO starting April 2, the day after Brown leaves.
Ferry will be put in charge of Burberry’s finance and business services functions. She will also become part of the company’s board and executive committee as one of the members. She will be directly reporting to the firm’s chief executive officer, Jonathan Akeroyd.
“I am very pleased to announce Kate’s appointment as Chief Financial Officer. Kate has extensive experience in public markets, business transformation and development, and an excellent understanding of the luxury industry,” CEO Jonathan Akeroyd said in a press release. “She is a strong addition to our leadership team and I am excited about her joining to support this next phase of Burberry’s development.”
Meanwhile, the newly-appointed CFO at Burberry started her career as a chartered accountant for London’s PricewaterhouseCoopers in 1998. She later joined Merrill Lynch, where she held the director role for its retail unit’s equity research team.
After nearly a decade in the banking sector, she ventured into another industry and moved to Carphone Warehouse PLC as the director of corporate affairs. She has since worked in various fields and now taking the fashion industry route.
Photo by: Samuel Regan-Asante/Unsplash
