LONDON – Burberry has appointed Kate Ferry as its chief financial officer, and executive director. Julie BrownShe had last September announced her departure.
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Ferry is currently chief financial officer of McLaren GroupShe has been responsible for financial strategy and investor relations and supported the overall strategic development of the automobile manufacturer and motorsport industry over the past two-years.
Prior to McLaren, Ferry was group chief financial officer of TalkTalk Telecom Group from 2017 to 2021. She is currently an independent non-executive director of Greggs, the British bakery chain.
Akeroyd said Ferry “has extensive experience of public markets, business transformation and development, and an excellent understanding of the luxury industry. She is a strong addition to our leadership team and I am excited about her joining to support this next phase of Burberry’s development.”
Burberry chair Gerry Murphy said Ferry “has the energy and experience to support the delivery of our ambitious plan, announced last November by Jonathan, to realize Burberry’s potential in modern British luxury.”
He also thanked Brown for her “professionalism and her enormous contribution to Burberry’s progress over the last six years, and to wish her every success in her new role.”
Brown, who is leaving her job on April 1st, will join British healthcare giant GlaxoSmithKline As chief financial officer. She served as Burberry’s chief operating and chief financial officer since 2017, helping to shepherd the company through Brexit and the COVID-19 crisis.
Ferry’s new role will include oversight of finance and business-services functions as well as investor relations and risk management. She also has responsibility for tax, trade, and treasury compliance.
Ferry began her career with PricewaterhouseCoopers in London and qualified as a chartered accountant in 1998. She then moved to Merrill Lynch, where she became a director within the retail sector equity research team, participating in numerous IPOs, including Burberry’s.
Ferry spent almost 10 years working in banking before joining retail telecoms company Carphone Warehouse PLC. There she was corporate affairs director and then became a member the executive committee after the multi-billion pound merger between Carphone and Dixons Retail to create Dixons Carphone PLC.
Ferry became the group chief finance officer at TalkTalk Telecom Group PLC. In 2017, Ferry joined McLaren Group as the chief financial officer.
Burberry will pay her a salary in the range of 675,000 pounds and an annual cash benefit allowance of 20,000 pounds. Her pension entitlement is 10% of her base salary.
In addition to two cash bonus awards, she will receive cash compensation for cash incentives received from her current employer over the next 2 years. She is likely to forfeit these cash incentives. Burberry stated that the total value of these buyout awards will be approximately 1.56million pounds.
Ian Brimicombe, currently senior vice president, specialist finance and projects at Burberry, has been named interim chief financial officer from April 2, and will join Burberry’s executive committee from that date, the company confirmed.
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