Kering appoints Luca de Meo
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Luca de Meo's departure from Renault likely to cause near-term uncertainty as analysts debate whether it will impact its growth strategy and make investors cautious.
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.
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
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Luca de Meo, formerly of Renault, is set to take over as CEO of the luxury conglomerate Kering, highlighting the company's strategic shift. His appointment marks a significant transition, as Kering seeks to rehabilitate its brand performance and manage a heavy debt load.