Burberry CEO Steps Down

Marco Gobbetti, CEO of luxury brand Burberry (London), has resigned from that position after five years, according to The Guardian. Gobbetti reportedly left to accept a position in Italy, closer to his family.

Luxury Italian brand Salvatore Ferragamo later announced it had appointed Gobbetti its new CEO. He has previously led brands like Céline, Givenchy and Moschino and will remain in his role at Burberry through the balance of the year.