Luxury Transformation: Luca de Meo Takes Helm at Gucci's Parent Company

Luxury goods conglomerate Kering announces the appointment of Luca de Meo as its new CEO, succeeding Francois-Henri Pinault. De Meo, known for revitalizing Renault, will bring his expertise to Kering, the owner of Gucci, as Pinault transitions to the role of chairman after leading the company for two decades.

Kering, the luxury goods behemoth that owns the iconic fashion label Gucci, has appointed Luca de Meo as its new CEO, effective as announced on Monday. The transition follows de Meo's departure from Renault, where he was instrumental in its strategic turnaround.

The decision marks the end of an era for Kering, with Francois-Henri Pinault stepping down from the CEO role after 20 years. However, Pinault will retain a significant presence within the company, continuing as chairman.

De Meo is credited with successful leadership at Renault, having redefined the carmaker's alliance with Nissan and focusing on hybrid and electric vehicle technologies. His new role at Kering suggests potential innovative strategies for the luxury goods sector.

(With inputs from agencies.)