Christopher Bailey, the Chief Creative and Chief Executive Officer of Burberry, has sold 68,667 of his shares in Burberry for £5.2 million. Bailey gained possession of the shares back in 2009 and 2011 after he added the role of Chief Executive Officer to his duties as Chief Creative Officer following the departure of former CEO Angela Ahrendts.
Since his rise, there has been some controversy surrounding his salary, with more than 50% of Burberry’s shareholders voting against his remuneration package. Burberry’s chairman Sir John Peace said at the time, “It’s a lot of money, but much of it is performance-related, and we know Christopher could command a much higher package outside the UK“. Despite the sales, the Burberry CEO still owns 303,110 shares of Burberry, worth £4.4 million. The Yorkshire-born designer will present the luxury brand’s Spring and Summer 2015 collection at London Fashion week on September 15.