Kering announces change of CEO
Luxury group Kering has announced Luca de Meo as its new chief executive officer in place of François-Henri Pinault. Mr Pinault will stay on as chairman. Until now, he held both roles.
The group said Mr Pinault had initiated the change and that it marked a decisive step in strengthening the group’s leadership as it enters “a new phase of its development”.
These changes will take effect in September, subject to shareholder approval.
Mr de Meo has spent 30 years in the automotive industry. He has been the chief executive of the Renault Group for the last five years. He said he would approach this new professional challenge “with enthusiasm, eagerness and confidence”.
For his part, Mr Pinault said that, after spending 20 years “transforming Kering into a major global luxury player”, he thought the group was ready for a new stage in its development. He added that Luca de Meo’s experience at the helm of an international, listed group and his understanding of brands would “bring a new vision”.
Credit: Kering.
