Burberry's Wardrobe Malfunction
Gobbetti will struggle to put his stamp on the brand while Bailey remains.
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Christopher Bailey's position as CEO and creative director of Burberry always looked as unwearable as one of the fashion label's lace shirts.
But the company's decision on Monday to strip Bailey of his CEO role and give it to Marco Gobbetti, head of Celine, looks even more impracticable. That didn't stop the shares jumping as much as 7.2 percent on the news. But there are good reasons to think that ebullience may be short-lived.