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Burberry: headhunts former Givenchy exec; shares rise

(CercleFinance.com) - Burberry on Thursday named Riccardo Tisci, Givenchy's creative director from 2005 to 2017, to succeed Christopher Bailey as chief creative officer, sending the British luxury house's shares up in London.

Analysts had widely expected the appointment, which will take effect on 12 March, with some of them saying that the move was much "needed" to make the brand "exciting again."

Riccardo Tisci will head all Burberry collections and present his first for the brand in September.

He formerly worked with Marco Gobbetti, Burberry's current CEO, when they both worked at Givenchy between 2004 and 2008.

Chris Bailey - who joined the company in 2001 - became chief creative officer in May 2014. Last autumn Burberry announced that he would leave the company in 2018.

The announcement on Thursday removed some uncertainties about the company's executive team. Burberry shares are currently up 3.9% at 1,593.5 pence.

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