LONDON — Shares in Burberry Group were down 7.5 percent to 12.03 pounds, or $15.58, at the close of trading on Tuesday.
The retreat came after the brand’s stock price rallied Monday following the announcement of a top management shakeup at the brand.
Earlier in the day on Tuesday, Burberry had extended its gains, climbing 1.5 percent to 12.29 pounds, or $15.92.
On Monday, the company revealed the appointment of a new chief executive officer, Marco Gobbetti, and a new chief operating and financial officer, Julie Brown. Christopher Bailey, who was holding the dual role of chief creative officer and ceo, will become president and retain his creative title.
The move was hailed by analysts as a necessary first step that will allow Burberry to execute its new strategy and austerity program.
On Tuesday, the FTSE 100 in London closed down 2.2 percent to 6,680.69.