Luca de Meo Appointed as Kering's New CEO in September

He will formally assume office on September 15.

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The current chief executive of Renault will resign from his position in mid-July and assume leadership of the luxury group on September 15. Simultaneously, Kering's incumbent CEO, François-Henri Pinault, will retain his position as Chairman of the Board of Directors.

In a statement, de Meo expressed gratitude to François-Henri Pinault and the Board of Directors for selecting him to guide Kering through this new developmental phase. I am embracing this new professional challenge with enthusiasm, eagerness, and confidence, motivated by the strength of the Group's brands and the competence of its personnel. I am confident that collectively we will sustain Kering's status as a pivotal entity in the luxury sector.

Pinault stated, “Following two decades of evolving Kering into a prominent global luxury entity, the Group is prepared for a new phase in its advancement.” In 2023, I initiated a contemplation on the progression of the Group's governance. In this setting, I encountered Luca de Meo. His tenure leading an internationally listed organization, along with his acute comprehension of branding and his commitment to fostering a robust and respected corporate culture, assured me that he is the leader I sought to introduce a new vision and navigate this phase in our Group's history.

He stated, “I am confidently entrusting the leadership of Kering and our teams to Luca.” I will, of course, support him in this new chapter as Chairman of the Board of Kering.

Luca de Meo will resign as Chief Executive of Renault in mid-July to explore new prospects beyond the automotive industry. According to French outlet - Le Figaro, it is claimed that he will take the lead as the new CEO of Kering, the French luxury giant famed for iconic labels such as Gucci, Saint Laurent and Balenciaga.

Despite de Meo's refusal to comment, speculation has escalated, especially following last week's reports indicating that François-Henri Pinault, the current Chairman and CEO of Kering, is poised to step down from his executive role while maintaining his position as Chairman and introducing new leadership to guide the group.

Kering unexpectedly canceled a planned event with financial analysts that was scheduled for Monday, June 16th, 2025, intensifying speculation. Kering has recently had increasing difficulties, especially with Gucci. Previously regarded as their "cash cow," Gucci has experienced a notable decrease in sales and earnings. Kering's stock price has declined by almost 60% in the last two years, and the corporation is presently overseeing more than €10 billion EUR (roughly 11.5 billion USD) in liabilities.

Luca de Meo is recognized for rejuvenating Renault during his five-year term by obtaining economies of scale through cost-reduction strategies, emphasizing electric vehicles, and reorganizing the brand's partnership with Nissan. His strong track record has prompted many to suspect he is being tapped to undertake a similar turnaround approach at Kering — especially as the corporation attempts to revive momentum at Gucci. Kering has yet to verify the reports at this time.