Kering ousts Gucci CEO, appoints Francesca Bellettini to lead the brand

Group 1 - Kering has appointed Francesca Bellettini as the new CEO of Gucci, replacing Stefano Cantino after only nine months [1][2] - Bellettini, who has a background in banking, has been one of Kering's deputy CEOs since 2023 and has overseen several brands including Saint Laurent, Balenciaga, and Bottega Veneta [1] - The appointment comes as Gucci has experienced a decline in sales by double-digits in recent years, prompting Kering to address the issues facing its flagship brand [2] Group 2 - Jean-Marc Duplaix will continue as Kering's COO, but the roles of deputy CEOs will be eliminated under the new leadership of Luca de Meo [2][3] - The management change aims to clarify roles and responsibilities within the executive team, which has been a key concern for analysts and investors [3]