Burberry Replaces CEO Christopher Bailey With Celine Head

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Christopher Bailey with Blake Lively at the 2016 Met gala

Marco Gobbetti will take over as CEO, with Bailey staying on as chief creative officer and president.

Burberry PLC has replaced Christopher Bailey as its CEO, ending the two year experiment of having him both lead the company and serve as its chief creative officer.

The luxury fashion house has named Marco Gobbetti, CEO of French luxury brand Celine, as its new chief executive.

Bailey will stay on as chief creative officer and as president.

The decision comes amid struggling sales, particularly in critical markets in Asia.