IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Burberry’s chief executive officer, Marco Gobbetti, has resigned and will be moving back to Italy to lead the company’s fashion business rival, Ferragamo. His exit from the British luxury fashion brand comes as the company is said to be undergoing a revamp.
Gobbetti’s resignation
Reuters reported that Gobbetti was credited for Burberry’s increase in market value. Under his leadership, he was able to boost the number by a third after taking the brand further upmarket.
Now, since he has done a lot to bring the label up, it was said that there are concerns that his resignation will undo some of the progress he made for the company.
In fact, it was said that after his departure from Burberry was announced, shares of the company plummeted by as much as 10% in early trade. On the other hand, shares in the company where he will move to, which is Ferragamo, saw an increase by 2.3% in Milan.
The executives at Burberry admitted that they were disappointed with Marco Gobbetti’s resignation, but they respect his decision to leave. The company's chairman, Gerry Murphy, said in a statement, "The board and I are naturally disappointed by Marco's decision, but we understand and fully respect his desire to return to Italy after nearly 20 years abroad."
As for Gobbetti, he said he thinks this is the right time to go back to Italy. He added that he thinks he can step down now because Burberry is now on the right track. "With Burberry re-energised and firmly set on a path to strong growth, I feel that now is the right time for me to step down," he shared.
Burberry shares plummet with Gobbett’s departure
As Gobbetti moves to lead Salvatore Ferragamo in his home country, Burberry’s shares have decreased. As per CNN Business, this just shows that many want him to stay and continue directing Burberry to success, but he has made a decision now and chose to work on another brand that has been considered as Burberry’s rival.
Finally, it was added that Gobbetti made the decision because he wants to stay close to his family now. In any case, prior to helming Burberry, he has worked for LVMHF for 13 years as its CEO of Celine and Givenchy and Celine.
