Christopher Bailey earning over £8.1m as Burberry CEO

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Burberry has announced that Christopher Bailey is now CEO at Burberry, after Angela Ahrendts left for Apple. Woop, woop.

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Well, it's ta-ra Angela, hola Christopher Bailey at Burberry.

They've just announced that big boss Angela Ahrendts has officially left the building for Apple with the design star Christopher Bailey taking on the reins of the multi-billion pound brand.

And of course one of the top jobs in fashion comes with a bumper pay packet too, as he is set to take home around £8.1 million this year, on top of the £7.6m in shares given as a golden hello for taking on the job.

According to the Guardian, Bailey will get a starting salary of £1.1 million and an expense allowance of £440,000 (for clothes, a driver, coffee and the like).

On top of that, Bailey will get a cash bonus of £2.2 million at the end of the year, on top of share earnings worth £4.4 million.

In a statement, Bailey couldn't hold in his excitement...why are we not surprised?

"I am profoundly moved and humbled to be asked to take on the CEO role at this company that means so much to me...I believe that creativity and innovation have been at the heart of our success in the last 10 years and will be even more so in the decade ahead."

In his new role, he'll still be heading up the creative parts of the business as chief creative officer but "with overall responsibility for creating and delivering the next chapter in Burberry's global vision and business strategy."

On the big news, Ms. Angela said:

"When we announced recently that Christopher Bailey would succeed me at Burberry...I felt such peace."

"Not only because I believe Christopher is one of the sector's greatest visionaries and Burberry's natural next leader, but also because my instincts told me he and the senior team were fully ready for me to pass the baton."

How sweet is that?

We're with Angela, he's bound to do a fantastic job.

Thoughts? Tweet us @handbagcom

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