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Input: LONDON (AP)  â Designer Christopher Bailey  who was replaced as Burberry chief executive earlier this year   will leave the British brand in 2018  ending a 17-year stint in which  he  helped transform a company once known mainly for trench coats into a global luxury icon.
 Bailey  added the title of CEO to  his  position as chief creative officer in 2014  taking on unique dual role in recognition of how much  his  ideas had contributed to Burberry's success. But  he  struggled to reinvigorate sagging sales in the company's key Asian markets and was replaced by Marco Gobbetti of the French luxury fashion house Celine in July.
It was as a designer  however  that  Bailey  made  his  name.  He  took the company that made trench coats in World War I and wove its classic plaids into contemporary design. Banking on Britishness   he  made it the center of Burberry's brand.
Long before other luxury houses even had the notion   he  championed the use of the digital marketplace  embracing the new medium with innovations such as allowing shoppers to immediately buy online what they saw on fashion show catwalks.
"It has been a truly inspiring place to work and the decision to leave was not an easy one "  Bailey  said in a statement released Tuesday. "I do truly believe  however  that Burberry's best days are still ahead of her and that the company will go from strength to strength with the strategy we have developed and the exceptional talent we have in place."
 Bailey  will remain president and chief creative officer until March 31  when  he  will leave the board of directors  Burberry said.  He  will remain at the company until Dec. 31  2018  to ensure a smooth transition.
Burberry said that as a result of  his  departure   Bailey  has agreed to give up a total of 830 550 shares  valued at 16 million pounds ($21 million)  that were awarded as part of  his  compensation packages between 2014 and 2017
 Bailey  took over during a time of strength for the company in May 2014  when former CEO Angela Ahrendts moved to Apple.
Shareholders soon began to ask questions about  Bailey 's pay package  which could have totaled as much as 7.6 million pounds including salary  allowances  a bonus and share awards. Others wondered whether the gifted designer had the right skill set to be CEO.
Gobbetti credited  Bailey  with being "instrumental" in the Burberry's transformation  adding that  he  leaves behind a legacy of talent that gives  him  "enormous confidence" in the future.
 Bailey  says that despite  his  departure  he  remains fully committed to Burberry's success.
"Burberry encapsulates so much of what is great about  Britain " Bailey  said in a statement. "As an organization  it is creative  innovative and outward looking. It celebrates diversity and challenges received wisdoms. It is over 160 years old  but it has a young spirit."

Burberry's Christopher Bailey to leave iconic British brand