British fashion brand Burberry has announced the immediate departure of chief executive Jonathan Ackerroyd as it reported results it described as "disappointing", AFP reports.
In his place comes Joshua Shulman, who has led US fashion brands Michael Kors and Coach, Burberry said in a statement.
Burberry head Gerry Murphy described Shulman as "a proven leader with an exceptional track record of building global luxury brands and delivering profitable growth".
In a separate statement, Murphy said Burberry's recent "results have been disappointing".
Revenue fell 22% to 458 million pounds ($594 million) in the group's first quarter, or the three months to the end of June.
He said Burberry would cut costs going forward while the group risked reporting an operating loss in the first half.
It comes at a time when the wider luxury fashion sector is heading for weak demand, particularly in China, with Gucci owner Koering issuing a profit warning in April. | BGNES