Luca de Meo, Kering’s new CEO, promises clear and decisive choices

Shareholders in the luxury goods group, previously overseen by François Henri Pinault, have approved the appointment of the former Italian boss of Renault as CEO. Set to take up his new role on September 15, the future CEO has promised to take immediate action to turn around Kering, which has been in sharp decline for the past two years…

The appointment of Luca de Meo as CEO of Kering was approved on September 9 by shareholders at the general meeting of the group, which had previously been overseen by François-Henri Pinault.

The latter will remain as Chairman.

The Italian executive was elected director by shareholders with an overwhelming majority of votes (98.97%). The board of directors meeting held after the general meeting has yet to confirm his appointment as CEO. Through its holding company Artémis, the Pinault family owns 42.3% of Kering’s capital and 59.3% of its voting rights.

“Back to school” on September 15

But Luca de Meo’s “back to school,” namely his effective arrival at Kering on September 15, will not be easy.

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Read also > Kering offers arrival and departure bonuses for Luca de Meo

Featured photo: © Kering