Checking out: Bumper pay-off for former Burberry boss Bailey

Burberry’s Christopher Bailey is to walk away from the fashion chain with a bumper payoff of about £13 million.

The 47-year-old held the chief executive role from 2014 until July last year, and in October announced that he was leaving his role as creative director. The generous award will raise eyebrows as Burberry has faced significant shareholder opposition to Bailey’s pay in past years. Former Givenchy designer Riccardo Tisci took over as Burberry’s creative director on 12 March. The annual report also shows that Marco Gobbetti, Burberry’s new chief executive, received a £6.3m pay award.