Mulberry forks out for new boss

Luxury bag designer Mulberry has spent £3.39m on welcoming its new boss from rival firm Hermès. The British label dished out 200,670 shares to its new chief executive Bruno Guillon, who paid just £2 for each £18.90 share – leaving Mulberry to pay for the remaining £16.90 per share. However, Guillon will only reap value from the offering if the share price exceeds £23.02.