British luxury fashion company Burberry has appointed Christopher Bailey as its new CEO. Angela Ahrendts will step down as CEO by the middle of 2014 to take up a new position with Apple.

Bailey has been at Burberry since 2001 and has been Chief Creative Officer for the past six years, a role he will maintain in addition to his new role as CEO. He has overseen all consumer-facing activities, including product design and development, creative marketing, store design, consumer technology and digital innovation. He will be joining the Board in due course.

Christopher Bailey commented: “I am profoundly moved and humbled to be asked to take on the CEO role at this company that means so much to me. I also feel privileged to be keeping my role as chief creative officer, as I believe that creativity and innovation have been at the heart of our success in the last ten years and will be even more so in the decade ahead.”