Mulberry has announced that its CEO, Bruno Guillon, is stepping down after two years.
Gullion, formerly of Hermés, will leave the Somerset-based luxury handbag maker immediately. Former CEO Godfrey Davis, currently non-executive chairman, will become executive chairman until a successor is found.
Gullions departure is just the latest shake-up at the troubled heritage brand. Last June, its creative director Emma Hill the woman regarded by many to be instrumental in Mulberrys resurgence left after six years at the helm, citing creative differences. That November, it cancelled its February 2014 fashion show, and shares have slumped 67% since Guillon joined.
We hope the brand finds stability again soon. We don't know what we'd do without its beloved bags...