Burberry is kicking off a proper seek for a brand new chairman practically a yr after putting in the most recent in a string of chief executives charged with reviving the luxurious trend model.
Mr Murphy, who additionally chairs Tesco, isn’t anticipated to step down this yr, though the exact timing has but to be formally decided, in accordance with insiders.
That mandate is now stated to have developed right into a extra simple hunt for a brand new chair, sources steered.
Planning for his departure comes as Burberry and different luxurious items producers grapple with the uncertainty of swingeing tariffs amid an escalating worldwide commerce struggle.
The corporate is now being run by Joshua Schulman, the previous Jimmy Choo boss, who was drafted in final July to arrest its decline.
Mr Schulman changed Jonathan Akeroyd, who left within the wake of a string of revenue warnings.
Shares in Burberry closed on Tuesday at 738.8p, giving it a market worth of about £2.6bn.
The inventory is down by greater than a 3rd during the last yr.
A spokesperson for Burberry stated: “In the normal course of business, we look at succession planning for board roles as they reach term.”
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