From Yahoo Finance: 2025-06-16 02:51:00

Kering, the owner of Gucci, appoints Renault boss Luca de Meo as new CEO to revive the struggling luxury conglomerate, with de Meo set to start on September 15. The move aims to address Kering’s financial challenges and reinvigorate the flagship label, as Gucci has struggled amid the pandemic and mounting debt of over 10 billion euros. Kering’s shares rose nearly 12% on the news, while Renault faces a setback with de Meo’s departure after his successful turnaround of the French carmaker and its alliance with Nissan. De Meo’s departure from Renault will not impact the company’s strategic plan, according to a spokesperson.



Read more at Yahoo Finance: Gucci owner Kering appoints de Meo as CEO, shares soar