2023-07-18 23:10:43
The cards are reshuffled at Kering. The French luxury group announced on Tuesday major changes in its organization. The most striking: Marco Bizzarri, CEO of Gucci since 2015, member of the executive committee of Kering since 2012, and in the group for 18 years, leaves the company. Jean-François Palus, Deputy CEO of Kering, has been appointed CEO of Gucci for a transitional period. He will take up his new role in September, while Marco Bizzarri will sign his last day on September 23.
Marco Bizzarri quitte Gucci – Kering
Francesca Bellettini, CEO of Yves Saint Laurent since 2013, will also take on additional responsibilities from September. She was appointed deputy general manager of the group in charge of housing development. “In order to facilitate the transition, Francesca Bellettini will gradually take up her new role over the coming months; a new Yves Saint Laurent management team has been put in place,” the group said in a press release.
Jean-Marc Duplaix, Chief Financial Officer of Kering since 2012, has also been appointed Deputy Chief Executive Officer of the group. He is in charge of operations and finance. He will therefore direct “all the corporate functions of the group and will be responsible for strengthening their efficiency and control”.
In its press release, Kering salutes the man who has been a “central figure in the Kering management team for eighteen years”. And to recall that Marco Bizzarri “orchestrated the execution of Gucci’s exceptional growth strategy since 2015, following having experienced success within other entities of the group”. The Italian manager had joined the company in 2005 following managing Mandarina Duck and Marithé + François Girbaud. First CEO of Stella McCartney, he took over the management of Bottega Veneta from 2009, where he accompanied the exponential growth until 2014, bringing it to exceed one billion euros in sales.
But since the sharp slowdown of Gucci, the group’s flagship brand, in recent years, and the departure of creative director Alessandro Michele in November 2022, (replaced by Sabato De Sarno, who will start in September), his future within Kering seemed strong compromise.
With his new cap at the head of Gucci, Jean-François Palus will present his resignation from his mandate as administrator of Kering and will settle in Milan, specifies the company. The latter’s mission is “to strengthen Gucci’s teams and operations, and to prepare its management teams and its organization for the future”. “For several decades, Jean-François has been, on a daily basis, my right-hand man and my teammate; he will now devote all his energy to fortifying our main asset,” said Kering CEO François-Henri Pinault.
Francesca Bellettini – Kering
For her part, Francesca Bellettini has had a string of successes. A graduate of Bocconi University in Milan, she joined fashion following an early career in finance at Goldman Sachs. She joined the Prada group in 1999, subsequently taking over the management of operations at Helmut Lang. In 2003, she joined Kering, working first at Gucci, then at Bottega Veneta, until taking over as head of Yves Saint Laurent in 2013, which she took from 550 million euros in turnover to nearly 3 billion ten years later.
As part of her new role, “the CEOs of all the brands will report to her, and she will be responsible for steering all of the group’s houses in the next stages of their development”, indicates Kering. “While playing an essential role in the six-fold increase in Saint Laurent’s turnover since she took over, she has been a first-rate collaborator”, underlines François-Henri Pinault, who explains these changes. of management through the desire to build “a more solid organization to fully capture the growth of the global luxury market”.
At the same time, the former CEO of Chanel, Maureen Chiquet, was co-opted by Kering to join its board of directors as an independent director. She will join it in September, replacing Daniela Riccardi, who presented her resignation from her term of office as administrator last April. The luxury group thus welcomes a more than recognized manager in the sector, who notably officiated at Chanel from 2003 to 2016. Last February, Maureen Chiquet was appointed president of the DoubleJ brand founded by the American JJ Martin and the ‘Italian Andrea Ciccoli.
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