François-Henri Pinault Expected To Be Replaced by Renault CEO Luca de Meo at Kering

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Summary

  • Luca de Meo, the current CEO of Renault, has announced his decision to step down from the French carmaker effective mid-July 2025
  • Rumored to become Kering’s new CEO, the potential appointment comes as Kering faces pressure to revitalize its performance, particularly with its flagship brand, Gucci
  • François-Henri Pinault, current CEO and Chairman of Kering is expected to step down, but maintain his Chairman position

Luca de Meo plans to leave his role as CEO of Renault in mid-July to explore fresh ventures beyond the auto industry. There are whispers that he may assume the position of CEO at Kering, a prominent French luxury group recognized for iconic brands like Gucci, Saint Laurent, and Balenciaga, according to Le Figaro.

As a devoted admirer, I can’t help but stir my thoughts, fueled by the silence from de Meo and the recent buzz surrounding Kering. The rumors have been growing stronger, especially after whispers last week hinting at François-Henri Pinault potentially stepping down as CEO, while maintaining his role as Chairman, and welcoming fresh leadership to guide the company.

Raising more questions, luxury group Kering unexpectedly postponed a meeting with financial experts that was slated for June 16th, 2025. Lately, Kering has been grappling with tough times, especially regarding their brand Gucci, which used to be a consistent revenue source. However, Gucci’s sales and earnings have taken a hit recently. As a result, Kering’s stock value has dropped by more than 60% in the last two years, and they are now burdened with over €10 billion EUR (approximately 11.5 billion USD) of debt.

Under Luca de Meo’s leadership, Renault saw a significant revival over a five-year period. He accomplished this by implementing cost-reduction measures, prioritizing electric vehicles, and redefining the partnership with Nissan. His successful history has sparked speculation that he may be tasked with orchestrating a similar transformation at Kering, particularly as they aim to rejuvenate Gucci’s performance. At this point, Kering has not yet verified these rumors.

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2025-06-16 11:56