Burberry has named former Kingfisher chief executive Gerry Murphy as chairman designate.
Murphy will replace Sir John Peace as Burberry’s chairman at after the Burberry AGM on July 12, bringing to an end Peace’s 16 years on the luxury retail giant’s board.
Murphy ran B&Q owner Kingfisher for five years until 2008. At present he is chairman of Tate and Lyle and of Blackstone Group International Partners.
He has also been a non-executive director of businesses including British American Tobacco, Merlin Entertainments and Reckitt Benckiser.
Burberry senior independent director Jeremy Darroch has been leading a search for Peace’s successor since last year.
Darroch said Murphy’s “substantial UK plc and global business experience will be a great asset to Burberry as we continue to focus on delivering long-term shareholder value.
“Sir John has presided over a period of extraordinary change, during which Burberry has enjoyed strong growth and evolved into one of the most valuable luxury brands in the world.”
Murphy said: “Burberry is a unique British brand that I have admired for a long time and I am looking forward to working with [chief executive] Marco Gobbetti and the board to guide the company through its next phase of growth.”
Peace said: “In Gerry Murphy, we have found a superb candidate with extensive experience in the consumer and retail industries.”