Burberry is searching for a new board member who could take over from chairman Gerry Murphy, who has been in the role since 2018.
The luxury fashion retailer is working with headhunters to find two new non-executives who would be candidates to replace the chair, Sky News reports.
While a definitive timetable for Murphy’s exit has not yet been established, insiders describe the search process as an “indirect hunt” for his replacement.
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One luxury goods source said: “They have been pretty explicit that the job is available for the right person.”
Last week, Burberry hired ex-Michael Kors boss Joshua Schulman to replace former CEO Jonathan Akeroyd who stepped down “by mutual agreement with the board”.
The replacement, which was effective immediately, came as the business warned that annual profits would fall short of expectations after first quarter sales fell by a fifth.
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