Luxury fashion label Burberry has announced that Chief Financial Officer Stacey Cartwright is to stand down from her role after nine years with the company.
Remaining in her role until the conclusion of the brand’s AGM this July, Cartwright will be succeeded by Caol Fairweather who will operate as Chief Financial Officer Designate with immediate effect until Cartwright’s departure.
Angela Ahrendts, Burberry CEO, said of the changes: “We thank Stacey for her dedication, commitment and partnership as we have worked to transform Burberry in recent years and for her outstanding personal contribution to improving the operational and financial infrastructure of the company.
“We wish her well in the future.
“We are delighted that one of her key partners, Carol Fairweather, will succeed her in the role of Chief Financial Officer.
“Carol’s deep understanding of the Burberry business and brand, coupled with her strong leadership and financial skills, position her uniquely to drive continued success in this role, while ensuring a seamless transition.”
Fairweather has been with the British label for six years following senior finance positions at News International and Shandwick and her appointment follows that of ex-BBC Worldwide chief John Smith as Burberry COO.
As Cartwright leaves the brand to “pursue other interests”, Burberry Chairman John Peace noted that the board change highlights the strength of the company’s management team.
“Carol’s appointment demonstrates the talent that exists within Burberry’s senior team,” Peace explained.
“Her track record of achievement in her six years with the business has been exceptional and we look forward to her continued contribution in this new role.
“On behalf of all my Board colleagues, I would like to thank Stacey for the significant contribution she has made to the company and wish her every success in her new endeavours.”