Mulberry Group (AIM:MUL) has appointed Andrea Baldo as chief executive replacing Thierry Andretta who is stepping down immediately.
Formerly CEO and Executive Director of GANNI, Baldo “drove the international growth of the business through a focus on retail network development, product innovation, and a sharpening of the brand identity to increase customer engagement” Mulberry said.
Baldo will join the luxury accessories group’s board on 1 September 2024.
Andretta has been in charge of Mulberry since 2015, a period that has seen its share price drop steadily since a brief high point in 2018.
In May, Mulberry reported sales for the year to end-March 2024 had dropped by 4% year-on-year, with losses expected due to costs of new stores in Australia and Sweden plus technology investment.
In a brief statement, Chris Roberts, chairman said: "I am pleased to be able to announce the appointment of Andrea Baldo.
Following our search process, it was clear that Andrea's international fashion brand expertise, creativity and strategic thinking meant he was absolutely the right person for this role. I'd also like to thank Thierry for his contribution to the business."
Shares in the AIM-listed group fell 6% to 96p.