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Burberry boss cashes in shares

BURBERRY chief executive Christopher Bailey has cashed in £5.2 million worth of shares just weeks after suffering a bloody nose over his pay package at the hands of shareholders.

Mr Bailey, previously chief creative officer at the luxury goods group, sold 285,451 shares he received under two different schemes dating back to before he replaced former boss Angela Ahrendts in May.

Separately, he also sold a further 68,667 shares. It means Mr Bailey's holding in the company has been reduced to 303,110 shares, worth around £4.4 million.

Burberry last month suffered a shareholder rebellion over his pay, with 52.7 per cent voting against the company's remuneration report which included proposals for a £7.2m golden hello for the 43-year-old Mr Bailey.

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