The sixty-year-old François-Henri Pinault, CEO of the French luxury group Kering, is planning to separate the functions of the board and management, according to a report by the Challeng Economic Magazine. Accordingly, Pinault wants to keep the chairmanship of the board of directors in the future, while a new person is supposed to take on the role of the CEO. Challenges does not name any specific sources for the information.
The personnel consultancy Jouve specializing in top management was therefore commissioned to search for suitable candidate: inside. In addition to external options, Kering apparently also checks two internal personalities: Francesca Bellettini, President of the Yves Saint Laurent brand, and Jean-Marc Duplaix, head of finance of the group. Both are currently part of the management. At the request of the AFP news agency, Kering himself did not comment on speculation.
Pinault has headed the company since 2005. The group, which originally operated under the name Pinault Printemps Redoute (PPR), was renamed Kering in 2013. Despite large ambitions, the company is currently under pressure: In the first quarter of 2025, sales fell by 14 percent to 3.88 billion euros. As early as 2024, Kering had suffered a profit decline of 62 percent and a decline in sales of 12 percent. The core brand Gucci in particular is burdening the development.
The Kering share has lost more than 25 percent in value since the beginning of the year.
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