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Burberry chief heads home to lead rival Ferragamo

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Reuters

By Muvija M and Claudia Cristoferi (Reuters) -Burberry boss Marco Gobbetti is leaving the company to return home and take the helm of Italian luxury goods group Ferragamo, casting a pall over the British fashion brand’s revamp. Gobbetti has been credited with boosting Burberry’s market value by a third as he has taken the brand further upmarket. Concern that his departure will undo some of that progress sent the company’s London-listed shares tumbling as much as 10% in early trade while Ferragamo rose 2.3% in Milan. Burberry recovered some of its losses to trade down 6.4% at 21.08 pounds while…

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