Christopher Bailey to cut all ties with Burberry

Creative force and one-time CEO to step down as chief designer in March and leave brand entirely by end of 2018

Christopher Bailey, who stepped down as Burberry chief executive in July after investor unease, is to leave the company by the end of next year with an expected payout of up to £12m.

Shares in the luxury goods retailer, renowned for its trenchcoats and distinctive check print, fell more than 2% initially, although they were later down just 0.3%.

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