New Yorkshire boss oversees record sales and profits at luxury brand Burberry

Mr Bailey, who is credited with transforming the group’s fortunes alongside former CEO Angela Ahrendts, is keeping his role as chief creative officer, raising fears he could be taking on too great a workload.

But Mr Bailey insisted he is more than capable of performing both functions.

He told analysts: “As you know, my new role is an unconventional one corporately, and my background is not that of a traditional CEO.

“As such, I will lead Burberry in my own way, but always guided by a passion for what this unique brand stands for, by a desire to take the business from strength to strength and by a tremendous pride in building its distinctive culture.”

Mr Bailey formally took over his new role at the beginning of this month, completing a six-month transition period.

“During this time I’ve been able to put the right team and structure in place for the next phase of Burberry’s evolution,” he said.

The firm reported an eight per cent rise in pre-tax profits to £461m in the year to March 31.