British luxury brand Mulberry Group has announced that its group finance director Charles Anderson will step down from his role at the end of January, marking a significant change in leadership as the company continues its operational restructuring.

The departure comes just months after the luxury leather goods maker reported widening losses and announced plans to streamline its operations. Anderson, who joined Mulberry in 2019, will remain with the business until August to ensure a smooth transition of responsibilities.

Chris Roberts, chairman of Mulberry, commended Anderson's contributions to the company during his tenure. "We are grateful for Charles's significant input, particularly during what has been a challenging period for the business," Roberts said.

Anderson expressed confidence in the company's future trajectory despite his departure. "Mulberry is an iconic brand and it has been a privilege to be part of its journey. I am confident that Mulberry is well positioned for future success," he stated.

The announcement follows a difficult period for the luxury retailer, which reported losses of £15.7 million for the 26 weeks to 28 September, compared to £12.8 million in the previous year. Sales during this period declined by 19 per cent to £56.1 million.

The company has already initiated the process to identify Anderson's successor, with further announcements expected in due course. This leadership change comes as Mulberry implements its recently announced strategy to improve margins, reduce working capital, and strengthen its cash position.

The transition in financial leadership arrives at a crucial time for Mulberry, which appointed Andrea Baldo as its new chief executive officer in September last year. The company has been working to revitalise its business model while maintaining its position in the luxury market, having previously rejected multiple takeover approaches from Frasers Group, its second-largest shareholder.

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