Kering’s De Meo Shuffles Top Gucci Ranks in Early Step as CEO

Group 1 - Kering SA's Gucci label has undergone a leadership shuffle with Francesca Bellettini appointed as CEO and Jean-Marc Duplaix remaining as group COO, as part of efforts to revive the struggling fashion group [1][2] - Luca de Meo, the new CEO, aims to implement tough and fast decisions to address the decline in luxury goods demand, with Gucci's sales dropping by 25% in the first half of the year and profit measures falling by over 50% [2] - The previous structure of having deputy CEOs was criticized for adding unnecessary management layers, which has now been eliminated with the new appointments [3] Group 2 - Former CEO Francois-Henri Pinault stepped down but retains the role of chairman, with his family holding approximately 42% of Kering's shares and 59% of voting rights [4] - Bellettini will collaborate closely with artistic director Demna Gvasalia, who joined from Balenciaga, despite initial market skepticism regarding his appointment [4]