Gucci CEO Marco Bizzarri is stepping down

Gucci CEO Marco Bizzarri is stepping down

Kering announced the departure of Marco Bizzarri, the long-standing president and CEO of Gucci, effective from 23rd September. Bizzarri served as the head of Gucci for eight years, overseeing a period of revitalization for the brand, which had faced challenges regaining its appeal following the departure of designer Tom Ford in 2004.

Amid slower sales growth compared to major competitors like Louis Vuitton and Dior, both part of the LVMH Group, Gucci is seeing a shift in leadership. Jean-François Palus, currently Kering Group managing director, has been named president and CEO of Gucci for a transitional period.

Gucci represents a significant part of Kering’s business, contributing a majority of sales and profits to the French conglomerate, which is run and controlled by billionaire CEO François-Henri Pinault.

Pinault has also announced promotions for two other executives to serve as deputy CEOs. Francesca Bellettini, president and CEO of Saint Laurent since 2013, has been appointed Kering deputy CEO, in charge of brand development. All brand CEOs will report to her, and she’ll also keep her current role.

Additionally, Jean-Marc Duplaix, chief financial officer since 2012, has also been appointed Kering deputy CEO, in charge of operations and finance.

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