Under a new arrangement, the role of Chief Executive Officer will be separated from that of Chairman of the Board of Directors, currently held by François-Henri Pinault

WHO IS HE? De Meo, 58, is from Milan, Italy, and has more than 30 years' experience working in the automotive sector. He graduated from the Luigi Bocconi Commercial University wit

The luxury group confirmed speculations reported by a number of media outlets this weekend. Pinault will retain his role as Kering chair.

Kering has announced a significant change in its executive leadership appointing Luca de Meo CEO, effective 15 September 2025. This is subject to shareholder approval at a meeting scheduled for 9 September.

A series of delicate issues awaits the Italian executive, who comes from Renault: an unfavorable economic climate, significant group debt and the collapse of sales at flagship brand Gucci. Financial markets have responded positively to the announcement of his appointment.

By Tassilo Hummel, Mimosa Spencer and Danilo Masoni PARIS (Reuters) -Kering shares jumped as much as 8.2% early on Monday and stocks in Renault fell over 6% after reports the French carmaker's CEO Luca de Meo was poised to become the new head of the luxury goods maker.

The former chief executive of the carmaker Renault will replace Francois-Henri Pinault as the struggling company seeks a turnaround.