President and CEO of Gucci to step down
The president and CEO of Gucci is set to step down later this year, marking a significant leadership overhaul within its French parent company, Kering.
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“Marco Bizzarri, president and CEO of Gucci since 2015 and a member of Kering’s executive committee since 2012, will leave the company effective 23 September 2023.
A key member of the Kering leadership group for 18 years, Bizzarri has masterminded the execution of Gucci’s outstanding growth strategy since 2015, following successful assignments at other Kering Group entities,” Kering announced in a statement.
Jean-François Palus, who is Kering’s managing director, will take over from Bizzari on a transitional basis.
According to CNN Gucci accounted for just over half of the $22bn in revenue Kering made in 2022. Kering shares shot up following the announcement which included other new appointments in the conglomerate.
Kering is home to luxury brands such as Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen and Brioni.
