Burberry has announced that its new boss Marco Gobbetti will officially join the company on 27 January, replacing existing chief executive Christopher Bailey.
Gobbetti's appointment was announced last year and on Monday Burberry said he will join the company as of 27 January.
He will initially hold the role of executive chairman until 5 July, when he will then go on to become chief executive.
In the meantime, Christopher Bailey will transition to his new role of president and chief creative officer and will remain on the group's board.
The move is part of the fashion retailer's strategy to address falling profits and slowing growth. Christopher and Marco will both report directly to chairman Sir John Peace.
Speaking last year, Sir Peace said: "I am delighted that Marco will be joining us to work alongside Christopher in his new role as we embark upon the next chapter in our 160-year-old success story.
"He has an outstanding track record of delivering growth in the luxury industry and his vision for the sector and how it will evolve is extremely impressive.
"The board firmly believes that these new leadership roles coupled with actions, identified in the recent business review, will significantly enhance our ability to deliver long-term sustainable growth and sector outperformance over time."
Christopher Bailey added: “I am very excited that Marco Gobbetti is joining us as chief executive officer and as a partner to me. Marco brings incredible experience and skills in luxury and retail with him that will be invaluable to us.
"I am delighted to welcome Marco and I am looking forward to working closely with him alongside the rest of our highly talented teams. On a personal level, I know that we are going to enjoy a wonderfully collaborative partnership that makes me very excited for our future at Burberry.”
Burberry also said Gobbetti, who joins from French luxury brand Celine, has a "proven track record" for growing and developing brands such as Givenchy, Moschino and Bottega Veneta.
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