Trending: Kering Shakes Up Top Management
19 Luglio 2023 - 11:18AM
Dow Jones News
Kering is among the most mentioned companies across news items
in the last 12 hours, according to Factiva data, after the luxury
conglomerate announced a top management shake-up. The French giant
confirmed the departure of Gucci CEO Marco Bizzarri, with
Jean-Francois Palus taking over the position for a transitional
period. Kering also appointed its finance chief Jean-Marc Duplaix
and Francesca Bellettini, head of Yves Saint Laurent, as deputy
CEOs. According to Equita Sim, the reorganization is positive as it
could strengthen governance, but won't have immediate implications.
In regards to Kering's top brand Gucci, "the change of CEO is
likely to further prolong the brand's current transitional phase,
but at the same time it demonstrates the group's commitment to a
more decisive and effective relaunch effort by increasing its grip
on the brand through the supervision of Jean-Francois Palus, for
more than 20 years the right-hand man of [Francois-Henri] Pinault
himself, CEO and chairman of the group," Equita Sim's Paola Carboni
said in a note. Kering's shares trade 6% higher at EUR523.90. Dow
Jones & Co. owns Factiva. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
July 19, 2023 05:03 ET (09:03 GMT)
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