From Yahoo Finance: 2025-06-16 11:10:00

Francois-Henri Pinault hires Renault boss Luca de Meo to address sales and debt issues at Kering. De Meo’s success at Renault boosts confidence, but challenges remain to match other sector leaders. Pinault steps back to address Kering’s problems, including a 75% value drop since 2021. Kering’s share price rises 12% after de Meo’s appointment.

De Meo’s lack of luxury experience is balanced by his turnaround skills, crucial for Kering’s financial health. His focus will include cost-cutting measures to reduce the conglomerate’s 10 billion euros of debt. Kering’s planned acquisition of Valentino could further strain finances, requiring careful negotiation and strategic decisions.

De Meo faces the pressing challenge of reviving struggling Gucci, following Michele’s departure and new creative director’s disappointing start. His automotive background may initially focus on cost-cutting, but success stories of cross-sector leaders offer hope for his transition. De Meo’s arrival at Kering is seen as positive by industry players.



Read more at Yahoo Finance: Gucci owner Kering bets on crisis specialist de Meo to lead revival