Reported about 14 hours ago
Luxury group Kering has appointed Luca de Meo, previously CEO of Renault, as its new CEO to combat declining sales and increasing debt. Under the leadership of Francois-Henri Pinault, Kering has faced significant challenges, particularly with Gucci's performance dropping sharply. De Meo, known for his successful turnaround at Renault, will be tasked with implementing cost-cutting measures and finalizing Kering's acquisition of Valentino while addressing issues at Gucci that have surfaced since the departure of its former designer. The appointment is seen as a bold but necessary move to stabilize the company.
Source: YAHOO