Kering, Luca De Meo is the new CEO: 'I face the challenge with enthusiasm'.
The manager's first words: 'I would like to thank François-Henri Pinault and the board of directors for choosing me to lead Kering in this new phase of development'.
3' min read
3' min read
The Kering board of directors, chaired by François-Henri Pinault, has approved the appointment of Luca de Meo as group CEO. As part of a renewed governance structure, the role of chairman of the board, held by François-Henri Pinault, will be separated from that of CEO. These changes will take effect with the decision of the Board of Directors following the convening of the shareholders' meeting, scheduled for 9 September 2025. Luca de Meo will take office on 15 September 2025.
"I would like to thank François-Henri Pinault and the board of directors for choosing me to lead Kering in this new phase of development," said Luca de Meo after his appointment as CEO of the luxury group. "I face this new professional challenge with enthusiasm, drive and confidence, inspired by the strength of the group's brands and the expertise of its people. I am convinced,' he concluded, 'that together we will continue to make Kering a key player in the luxury sector.
The Italian manager, after five years at the head of the car manufacturer Renault, therefore takes the reins of the world's second largest luxury group, Kering, which has some of the most important Italian and made-in-Italy luxury brands in its belly: Gucci, Bottega Veneta, Saint Laurent, Balenciaga.
The group, in the context of a general slowdown in the luxury market, is experiencing a particularly complex moment: in 2024, it recorded sales down 12% to €17.19 billion, with net profit down 62% to €1.13 billion, and closed Q1 2025 with revenue down 14% on the same period the year before, weighed down by the -25% drop in sales recorded by the flagship Gucci brand. Over the past year, the share price has fallen 45% (plunged 65% since the beginning of 2025). But De Meo's appointment (although still unofficial), has been welcomed by the market: the rumours alone have circulated since the indiscretion published on Sunday 15 in Le Figaro, and have led to a +11% increase.
With the 'splitting' of the posts of chairman and CEO, hitherto held by François-Henri Pinault and before him by his father François, who founded Kering (then PPR), De Meo would thus become the first manager 'outside' the Pinault family to hold the position of group CEO.
