Kering announced Tuesday that Marco Bizzarri will step down as president and CEO of Gucci, effective Sept. 23.
Bizzarri, who has held the position since 2015, has additionally been a member of Kering’s executive committee since 2012 and a member of the Kering leadership group for 18 years, according to the release.
Kering credited Bizzarri with masterminding “the execution of Gucci’s outstanding growth strategy since 2015, following successful assignments at other Kering Group entities.”
“I want to thank Marco for his spectacular contribution to the success of Gucci and of Kering, and I wish him well in his future endeavors,” François-Henri Pinault, Kering’s chair and CEO said in the release. “I am confident that the changes we are announcing today will set Kering on a path to success and profitable growth over the long term.”
Jean-François Palus, who is Kering Group’s managing director, has been appointed to take on the role of Gucci president and CEO for what the company called “a transitional period.” He’ll be responsible for strengthening Gucci’s teams and operations “as the House rebuilds influence and momentum.” In his transitional role, Palus will relinquish his position on the Kering board and relocate to Milan.
Meanwhile, Jean-Marc Duplaix, who has served as CFO since 2012, has been appointed Kering’s deputy CEO, and will be in charge of operations and finance.
Francesca Bellettini has also been appointed Kering’s deputy CEO, in charge of brand development, a role she will hold along with her current position as president and CEO of Yves Saint Laurent, where she has been since 2013. In her new position, all Kering brand CEOs will report to her. Bellettini will gradually take on her new responsibilities over the coming months. Kering said a new Yves Saint Laurent top management lineup has been put in place, although it did not release details.
“We are building a more robust organization to fully capture the growth of the global Luxury market,” Pinault said. “I look forward to working with Francesca in her new executive leadership role; while being instrumental in multiplying revenues sixfold since she joined Saint Laurent, she has been a fantastic partner, and all brands as well as the Group will now benefit from her expertise. Jean-Marc has overseen our transformation into an integrated Luxury group, and I count on him to continue infusing discipline and responsibility across the organization and foster the continuing development of best-in-class practices in all our operations. Jean-François has been my right-hand man and a daily sparring partner for several decades, he will now focus his energy on getting our largest asset in top shape, and I couldn’t be more grateful.”
