Burberry finds new CFO at supercar manufacturer McLaren

Kate Ferry to replace Julie Brown who heads to GSK

Burberry has hired Kate Ferry from McLaren as its new chief financial officer in the latest of a series of changes at the top of the British luxury brand.

Ferry will replace Julie Brown, who is leaving next month after more than six years with the fashion group to join drugmaker GSK.

At McLaren, which makes luxury cars and owns a Formula One racing team, Ferry oversaw financial strategy and investor relations. Prior to this she was CFO at TalkTalk for four years. She will join Burberry by September at the latest and report to chief executive Jonathan Akeroyd, the company said in a statement Tuesday.

Ferry’s appointment marks the latest management change at Burberry, which is in a period of transition as Akeroyd attempts to move the brand even further upmarket, restore its “Britishness” and strengthen its accessory offerings, notably bags and shoes. The British executive took over the running of the brand, known for its trench coats and check pattern, last year and quickly hired UK-born fashion designer Daniel Lee to replace Riccardo Tisci. --Bloomberg