Christopher BaileyChristopher Bailey is to take a step back from his role as chief executive officer at Burberry. He will continue his role as chief creative officer and take on his new role of president to the brand.

Christopher Bailey at Burberry

The new CEO, Marco Gobbetti, who currently is the head of Celine and has previously worked at Givenchy and Moschino, will be Bailey's replacement and both will report into chairman, Sir John Peace.

Burberry finale spring/summer 2015

The appointments have come as the business takes on a number of changes at the senior end of the spectrum. With sales reportedly slowing down in some of their largest markets, perhaps this move comes with more of a weighted agenda for growth and expansion.

Mr. Gobbetti will join the company in 2017. 

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