Kering Executive Shake-up: Marco Bizzarri exits Gucci, Saint Laurent chief appointed group head of brands

In a significant strategic manoeuvre, Italian luxury house Gucci has announced the imminent departure of its CEO, Marco Bizzarri, who is set to bid farewell to the brand in September.

Kering Group transition

In the wake of this leadership transition, Kering, the parent company of Gucci, has executed a top-level reshuffling, appointing former Chanel CEO Maureen Chiquet to its board of directors and naming Francesca Bellettini, the current CEO of Saint Laurent, as head of the group's portfolio of brands.

Mr. Bizzarri's departure marks another notable shift in Gucci's executive landscape, having parted ways with its former director, Alessandro Michele, just last November. Having served as the brand's CEO since 2015, Mr. Bizzarri has been an influential figure at the helm of the luxury powerhouse.

As part of its comprehensive restructuring efforts, Kering has devised a new organisational framework, with all brand CEOs now reporting directly to Ms. Bellettini. In her newly appointed role, she will be entrusted with the pivotal task of steering the group's illustrious houses through their next phases of growth, as reported by Italian news outlet Pambianco.

To ensure a seamless and well-managed transition, Ms. Bellettini will gradually assume her new responsibilities in the coming months. In parallel, Kering has established a fresh top management line at Yves Saint Laurent, underlining the company's commitment to a harmonious and effective leadership structure, as detailed in the communication accompanying this announcement.

As a part of this management reorganization, Jean-François Palus, the current general manager of Kering Group, has been appointed interim president and CEO of Gucci. Tasked with bolstering Gucci's teams and optimizing its operations, Mr. Palus will play a crucial role in revitalizing the brand's authority and momentum, defining its future direction and organisational prowess, said Pambianco. In light of this new responsibility, Mr. Palus will step down from his position on the board of directors and relocate to Milan, further reinforcing the company's focus on Italy, a cornerstone of its luxury heritage.

Moreover, the appointment of Jean-Marc Duplaix as Kering's Deputy CEO, responsible for operations and finance, underscores the group's dedication to operational excellence and financial stewardship. In his elevated capacity, Mr. Duplaix will oversee all corporate functions of the Group, aiming to continually enhance the efficiency of various operations.

As Gucci undergoes this executive transition, the luxury titan remains poised to navigate the evolving landscape of high-end fashion, under the stewardship of its newly appointed leaders. Gucci is due to unveil its first collection under new creative director Sabato De Sarno during Milan Fashion Week in September. Whilst the fashion industry keenly observes the outcomes of Kering's strategic moves, they unfold against the backdrop of a dynamic and competitive luxury market that is constantly in flux. Gucci's last two collections without a creative leader were met with lacklustre reviews. In February shares in Kering dipped after a reported revenue slump in Q4 at Gucci, the group's biggest brand, said Reuters.

A more solid organisation

Kering’s management shakeup was first reported by WWD, with François-Henri Pinault, president and CEO of Kering stating: “We are building a more solid organization to fully capture the growth of the global luxury market and I look forward to working with Francesca in her new role. As well as being instrumental in sixfolding revenues since she joined Saint Laurent, she has been an amazing partner, and now all of our brands, as well as the Group, will benefit from her expertise. Jean-Marc has led our transformation into an integrated luxury group and I am counting on him to continue to instill discipline and accountability throughout the organization and drive the continuous development of best practices across our operations. Jean-François has been my right hand man and a daily sparring partner for several decades. He will now focus his energies on getting our greatest wealth into top form, and I couldn't be more grateful."

“I want to thank Marco for his spectacular contribution to the success of Gucci and Kering, and I wish him the best in his future endeavors. I am confident that the changes we are announcing today will position Kering on the path to success and profitable long-term growth.”