MILAN – Kering is reshuffling its top management.
In a statement issued on Tuesday evening, the French group confirmed the exit of Marco Bizzarri, president and CEO of Gucci since 2015 and a member of Kering’s executive committee since 2012. WWD was the first to report that sources believed Bizzari would leave the company. His last day at Gucci will be on Sept. 23, after the brand’s spring 2024 show in Milan.
Francesca Bellettini, president and CEO of Yves Saint Laurent since 2013, in addition to her current role, is appointed Kering deputy CEO, in charge of brand development. All brand CEOs will report to her, and she will be responsible for steering the group houses in their next stages of growth.
To ensure a smooth transition, Bellettini will gradually assume her new responsibilities over the coming months and a new Yves Saint Laurent top management lineup has been put in place.
Jean-François Palus, currently Kering Group managing director, is appointed president and CEO of Gucci for a transitional period. He will relinquish his position on the board of directors of Kering and relocate to Milan.
Jean-Marc Duplaix, chief financial officer since 2012, is appointed Kering deputy CEO, in charge of operations and finance.
Former Chanel global CEO Maureen Chiquet was appointed member of the Kering board.
“We are building a more robust organization to fully capture the growth of the global Luxury market,” said François-Henri Pinault, Kering Chairman and CEO. “I look forward to working with Francesca in her new executive leadership role; while being instrumental in multiplying revenues sixfold since she joined Saint Laurent, she has been a fantastic partner, and all brands as well as the Group will now benefit from her expertise.”
Pinault continued by highlighting how Palus oversaw the transformation “into an integrated luxury group, and I count on him to continue infusing discipline and responsibility across the organization and foster the continuing development of best-in-class practices in all our operations. Jean-François has been my right-hand man and a daily sparring partner for several decades, he will now focus his energy on getting our largest asset in top shape, and I couldn’t be more grateful.”
He concluded by thanking Bizzarri “for his spectacular contribution to the success of Gucci and of Kering, and I wish him well in his future endeavors. I am confident that the changes we are announcing today will set Kering on a path to success and profitable growth over the long term.”
This story was reported by WWD and originally appeared on WWD.com.
