ht be tolerable were Burberry performing better. Now, it's clear the new boss needs a free hand. Bailey has a role, but ideally a lesser one. Until Gobbetti arrives, Bailey is both chief executive and head designer. During his three-year tenure as CEO, Burberry returned 5 percent annually to shareholders

e kind of perk normally only granted to designers that are also brands' founders, such as Miuccia Prada or Ralph Lauren. Unusually, both Bailey and Gobbetti will report directly into Chairman John Peace. Even at Gucci owner Kering, which prizes strong CEO-designer partnerships, chief executives ultimatel