Christopher Bailey, Burberry's new CEO

He will also keep his current role as Burberry's chief creative officer

Designer Christopher Bailey has confirmed that he will be the new chief executive officer of luxury brand Burberry.

He will replace Angela Ahrendts, who has been working with the brand for over a decade, but he will also continue in his current role as Burberry's chief creative officer.

"I am profoundly moved and humbled to be asked to take on the CEO role at this company that means so much to me," contactmusic.com quoted Bailey as saying.

"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," he added.