Burberry finance director Stacey Cartwright is to leave the luxury fashion retailer after nine years and takes a £4m share pay out with her.

Cartwright’s exit comes as former BBC Worldwide boss John Smith has been hired as its first chief operating officer, drafted in to oversee its perfume and beauty business which is being brought in-house.

Cartwright is entitled to around £4m-worth of long-term shares and also owns a further £6m-worth of shares, based on today’s share price.

She said she is leaving Burberry to “pursue new interests”.

Burberry chief executive Angela Ahrendts said: “We thank Stacey for her dedication, commitment and partnership as we have worked to transform Burberry in recent years and for her outstanding personal contribution to improving the operational and financial infrastructure of the company.”

Cartwright will be replaced by Carol Fairweather, who is senior vice-president of group finance at the fashion retailer.