Not long and Luca de Meo is at the top of the French luxury goods group Kering. Today the future head of the Gucci mother spoke to the shareholder for the first time: inside.
“The current situation (…) encourages our determination to act immediately,” said Luca de Meo on Tuesday at the Annual General Meeting of Kering shareholders: inside. There, his appointment as the new managing director of the group was to be confirmed. “This requires clear and strong decisions,” he emphasized. “We have to further reduce our debt. And where necessary, we have to rationalize, reorganize and reposition some of our brands.”
He continued: “Of course, it is not the right time to explain our future strategy plan in detail.
The future managing director admitted: “These decisions will not always be easy. But we will make them with clarity, claim and a sense of responsibility. This sense of responsibility corresponds to our leadership role as a guardian of a valuable heritage and a future that we have to develop.”
“We will be quick, efficient and willing to make decisions. We will consolidate the foundations of the house and build an even more integrated, more agile and more offensive luxury group,” he said. “This will undoubtedly require efforts from all sides: from management to employees, our partners: inside and supplier: inside. And also a little trust from them, the shareholder: inside.”
Just a few minutes earlier, François-Henri Pinaault, who remains active as head of supervisory board at Kering, described de Meo as “strategist, builder and man who understands brands”.
“He is someone who pays great attention to the importance of creativity. And who understands exactly what a house, style or heritage is,” he said. He was “convinced that he will be able to” further develop “what the group” built up “.
The 58-year-old Italian manager has to get Kering back on track. In July, the group announced a decline in net profit in the first half of the year by 46 percent to 474 million euros. Sales collapsed by 16 percent to 7.6 billion euros.
“I am well aware that we have been confronted with considerable difficulties in the past two years. But today everything is being set to recover,” said Pinault during the question and answer session: Inside.
This article was used with digital tools translated.
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