Upmarket fashion brand Mulberry’s chief executive Bruno Guillon resigned with immediate effect – with industry insiders pointing to the Somerset-based group’s troubles during his two years at the helm.
His sudden departure comes less than two months after the iconic brand’s third profits warning in 18 months – the most recent blamed on prices rises that alienated many of its UK customers. 
In a brief statement to the London Stock Exchange, Mulberry said non-executive chairman and former chief executive Godfrey Davis will take over day-to-day running of the Chilcompton-based company as executive chairman until a successor is found.
He said: “I, along with the board, would like to thank Bruno for his hard work over the past two years. He has helped improve the quality of the Mulberry offering and enabled the company to increase its international appeal and grown international retail sales.
“I am confident that Mulberry has the heritage, brand appeal and products to build on what has been achieved.”
Mulberry shares closed up 5.26% on the day of Mr Guillon's resignation at 670p.
