Burberry Hires New CEO

Burberry (London) has hired Joshua Schulman as CEO and Executive Director. Schulman replaces Jonathan Akeroyd, who is leaving the company by mutual agreement with its board.

An American national, Schulman, 52, joins Burberry “with a track record of driving transformative growth and value creation as CEO of global luxury, fashion and retail businesses,” the company said.

Schulman was previously CEO of American fashion brands Michael Kors (2021-2022) and Coach, where he also served as Brand President (2017-2020). Prior to that, he was President of Neiman Marcus Group’s Bergdorf Goodman unit for five years, and from 2007 to 2012, he was CEO of Jimmy Choo in London. Earlier, Schulman was EVP/Worldwide Merchandising and Sales at Yves Saint Laurent and Worldwide Director/Women’s Ready to Wear at Gucci.

Though the company did not disclose a specific reason for Akeroyd’s exit, numerous news reports on his departure note that the company has been struggling, including recently posting a 22% decline in first quarter retail revenues.

Schulman will join Burberry on July 17 and be based at its London headquarters. He will lead the board’s executive committee and report to Burberry Chair Gerry Murphy.

“Josh is a proven leader with an outstanding record of building global luxury brands and driving profitable growth,” said Murphy. “He has a strong understanding of our brand and shares our ambition to build on Burberry’s unique creative heritage. His extensive experience in luxury and fashion will be key to realizing Burberry’s full potential.”

Said Schulman: “Burberry is an extraordinary luxury brand, quintessentially British, equal parts heritage and innovation. Its original purpose to protect people from the weather is more relevant than ever. I look forward to working alongside [Chief Creative Officer] Daniel Lee and the talented teams to drive global growth, delight our customers, and write the next chapter of the Burberry story.”

The company weaves gabardine to make its heritage trench coats at its mill and factory in Yorkshire, U.K., while its classic Burberry check cashmere scarves are made in Scotland. It sells its goods through a network of 400-plus directly operated and franchised stores, was well as via wholesale and online channels.