Burberry chairman Sir John Peace has signalled his intention to leave the luxury fashion brand after more than 15 years.
His next move is not yet known.
Sky chief executive Jeremy Darroch has been appointed as senior independent director with effect from 1 July and will lead the search for Peace’s succeesor. It is thought a new chairman will be announced by the end of 2018.
Marco Gobbetti is preparing to take the helm of Burberry as chief executive next month, after joining the business from French luxury brand Céline. Current chief executive and chief creative officer Christopher Bailey will become president and chief creative officer once Gobbetti steps into his new role.
Reported profits before tax at Burberry fell to £395m in the year to March 31 2017, down from £416m the year before.