Burberry Appoints Joshua Schulman as CEO

Burberry Group Plc's future creative director Daniel Lee's fate lies in the hands of new CEO Joshua Schulman, following the abrupt departure of former chief executive Jonathan Akeroyd. Schulman, an industry veteran with experience at Michael Kors and Coach, aims to steer Burberry through a challenging period marked by declining revenues and profits. The luxury brand has struggled to shift upmarket and faces significant market share losses, especially in the wake of a global luxury sector downturn, notably in China. Burberry's stock has plummeted, and investors are eager to see if Schulman can lead a successful turnaround amidst tough market conditions.