Yahoo Finance

LONDON — Burberry is making swift changes under the direction of new chief executive officer Joshua Schulman as on Tuesday it appointed Jonathan Kiman chief marketing officer, succeeding Rod Manley, whose planned departure was announced earlier this year.

Joining the brand in London on Sept. 9, Kiman previously was at Gucci in Milan, where he held various senior roles for 12 years, including most recently chief marketing officer. He previously served as chief brand officer of Versace.

More from WWD

• Burberry's New 'It' Girls: Phoebe Philo and Kate Moss' Daughters Faces of Fall Campaign

• Galliano, Anderson and Prada In for 2024 Fashion Awards Nominations

• Blake Lively Continues Her Flower Power Era in Burberry Trenchcoat During 'It Ends With Us' Press Tour in London

“Kiman has a wealth of experience in rejuvenating brands and building digital-savvy marketing organizations. I look forward to working closely with him to enhance our marketing capabilities and strengthen the Burberry brand,” said Schulman.

At the same time, Burberry appointed Laura Dubin-Wander as president of the Americas. She will be based in New York City and lead the brand’s operations in the region beginning Wednesday. Most recently she was CEO of OTB North America and has worked in several senior roles at brands including Christian Dior Couture, Givenchy and Coach, where she was the president of North America.

“Dubin-Wander is a results-driven and dynamic leader with demonstrated success in building and developing winning teams. I am delighted to be working with her to grow our business in the Americas,” added Schulman.

The fresh round of senior management reshuffle came at a time when Burberry is on the brink of falling out of the FTSE 100 index of blue-chip stocks on the London Stock Exchange.

Over the past 12 months Burberry’s share price has declined nearly 70 percent, and its market capitalization has shrunk to around 2.37 billion pounds on the back of falling sales in one of the most brutal macroeconomic periods that luxury operators have witnessed in more than a decade.

The brand reported a 22 percent decline in first-quarter retail revenue to 458 million pounds, with comparable store sales sinking 21 percent.

Burberry chairman Gerry Murphy called the quarter “disappointing,” and said if the weakness in luxury demand persists through the second quarter, Burberry will report an operating loss for the first half, which ends Sept. 30.

In July, the company replaced its CEO Jonathan Akeroyd with Schulman, an executive who has extensive experience in high-end and aspirational luxury.