Despite its current mediocre performance, the luxury group is going to offer its shareholders a €20 million “golden hello” for its future CEO. He will also receive generous annual compensation and a golden parachute in the event of forced departure.
The news, which is unusual in France, is fueling press commentary during this quiet time of year.
Kering has decided to offer a spectacular €20 million signing bonus to its future CEO, Luca de Meo, formerly head of Renault. The use of this “golden hello” practice, common in Anglo-Saxon countries but rare in France, is particularly surprising. Indeed, the luxury group, which has been struggling for some time and was previously led by François-Henri Pinault, has just unveiled a particularly poor first half of 2025.
Compensating Luca de Meo for lost salary
In a document published online on July 30, the day after Kering’s results were announced, the board of directors explained that this generous welcome gift would “compensate for the loss” of deferred compensation that Luca de Meo would have received had he not resigned from Renault on July 15.
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Read also > Kering slips in the first half
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