Burberry'S Share Price Plummeted By 1.06%.

The former CEO Marco Gobbetti will take over as chief executive officer of Christopher Bailey.

Only the creative director will be retained.

Over the past two months, The Times recently announced that Bailey sold nearly 19 thousand of its Burberry holdings, worth about 250 thousand pounds, or about 2 million 189 thousand yuan.

Bailey's cash in the move will not matter much to the group or to him personally.

According to the results of Burberry 2015-2016 fiscal year, the shares sold by Bailey are only a small part of their holdings.

As of March 31, 2016, Bailey held nearly 562 thousand shares in the group, with only about 3.3% of the total shares sold.

From this point of view, Bailey should still return to the bank steadily and continue to perform the function of creative director in the group.

The former CEO, who was in danger in 2013, has gone through.

Several years of downside have been controversial.

Because of the sharp decline in European and Hongkong tourists, Burberry Group sales declined all the time, resulting in a 75% reduction in wages in June.

As early as 2014, Bailey had a precedent for selling shares.

At that time, he sold at a price of 14.67 and finally got 5 million 200 thousand pounds.

After sale, Bailey also owns 303 thousand shares.

At the same time last year, Burberry group, in order to encourage Bailey to resist pressure, promised to reward its stock. In its annual report, it promised to increase Bailey shares by 500 thousand shares between 2017 and 2019. At that time, its personal stake in the group was about 500 million yuan.

But the outgoing Bailey may not get the money.

Bailey is not the only management group in the Burberry group to cash in.

According to the Retailgazette website, the CEO Pascal Perrier in the Asia Pacific region has also sold about 1 million pounds.

After news of the sale of Bailey shares, Burberry's shares fell 1.06%.

The emergence of shareholders' cash also means that Burberry is in a downturn, because important shareholders often have a better understanding of the company's operating conditions. Its reduction in stock behavior will, to a certain extent, hurt the enthusiasm of small and medium-sized shareholders, and will also cause downward pressure on stock prices.

The Burberry group, which was shown in the previous earnings report, will save 100 million pounds in the next three years.