Luxury conglomerate Kering has appointed two deputy CEOs—part of a corporate shake-up that includes new leadership at leading brands Gucci and Saint Laurent.
Francesca Bellettini (pictured), president and CEO of Saint Laurent since 2013, will become Kering’s deputy CEO over the next few months, as new management at Saint Laurent is put in place. All brand CEOs will report to Bellettini, and she will steer Kering’s stable of luxury names, which include jewelry companies Boucheron, Pomellato, DoDo, and Qeelin.
The move makes Bellettini “one of the most powerful women in the luxury industry,” The New York Times wrote.
Jean-Marc Duplaix, chief financial officer since 2012, has also been appointed Kering deputy CEO, in charge of operations and finance. He will head the group’s corporate functions with an eye to enhancing efficiency and accountability.
The executive changes include a dramatic departure at Kering’s largest brand, Gucci. Marco Bizzarri, president and CEO of Gucci since 2015 and a member of Kering’s executive committee since 2012, will leave the company, effective Sept. 23.
Jean-François Palus, currently Kering Group managing director and a founder of the sustainability-oriented Watch & Jewellery Initiative 2030, will be appointed Gucci’s president and CEO for a transitional period. In his new role, Palus will relinquish his position on Kering’s board and relocate to Milan.
“Jean-François has been my right-hand man and a daily sparring partner for several decades,” said François-Henri Pinault, Kering chairman and CEO, in a statement. “He will now focus his energy on getting our largest asset in top shape, and I couldn’t be more grateful.”
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