Burberry appoints Saks Fifth Avenue’s Ron Frasch just days after chairman’s departure

Burberry first quarter

Former Saks Fifth Avenue president Ron Frasch is poised to take on the role of non-executive director at Burberry, amid a continuing senior reshuffle.

Frasch brings a wealth of fashion experience to the role, having held positions as chief executive of Bergdorf Goodman and president and chief merchandising officer at Saks Fifth Avenue. He is set to start his new role in September where he will be tasked with reviving the retailer‘s ailing US sales, according to the Daily Mail.

The announcement of Frasch‘s appointment comes just days after chairman Sir John Peace announced his departure after more than a decade, while former Sky chief executive Jeremy Darroch will join to head up the search for his replacement.

READ MORE:  Burberry chairman Sir John Peace to step down

This reshuffle comes weeks before former Celine chief executive Marco Gobbetti will take his position as the new leader of Burberry, replacing Christopher Bailey who will reside as president and chief creative officer.

The retailer‘s pre-tax profits dropped five per cent in the year to March 31, while its EBITDA dive bombed 21 per cent. It attributed much of its decline to faltering US sales.

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