Luca de Meo Takes the Reins: Kering's New Strategic Direction

Luca de Meo, the seasoned CEO of Renault, has been named the new chief executive of Kering, the luxury conglomerate that owns prestigious brands like Gucci, Saint Laurent, and Bottega Veneta. His appointment signals a fresh strategic direction for the group amid pressing financial adversities.

De Meo, aged 58, hails from Milan, Italy, and boasts over three decades of experience in the automotive sector. A graduate of Luigi Bocconi Commercial University in business administration, he is celebrated for his capacity to revitalize struggling brands. He transitions from the automotive industry to explore new challenges at the helm of Kering.

Taking over leadership during a period of financial underperformance for Kering, de Meo is expected to execute an impactful change. The luxury group has faced skepticism from stock market investors concerning its strategies for reviving its pivotal Gucci brand. With Kering's shares having diminished in value, de Meo's visionary expertise will be crucial in redirecting the company's future course.

(With inputs from agencies.)