Burberry names new CEO as Christopher Bailey steps back to focus on design

British luxury brand Burberry has named Marco Gobbetti as its new chief executive, in a move that will see current chief Christopher Bailey appointed to the role of president and chief creative officer.
Bailey’s dual role of chief executive/chief creative of the brand has been under scrutiny since he took up the position in 2014, with analysts and investors questioning whether Bailey was overstretched, given that the brand's profits have been tumbling over the last 12 months and its s