Burberry Group PLC’s executive makeover leaves the British trench-coat maker with plenty to prove. Angela Ahrendts, chief executive of the $11-billion (U.S.) fashion house, is leaving next year to run Apple Inc.’s retail operation. That lopped 4.5 per cent off Burberry shares on Tuesday morning.
No wonder: her tenure was good for investors. Worse, Burberry is flirting with a risky concentration of power. It is replacing Ms. Ahrendts with the company’s creative director, Christopher Bailey. But he will keep his current job.