Kering, Gucci and Luca de Meo
Digest more
Gucci parent, Kering, appointed Renault's former CEO, Luca de Meo, as its chief executive, as the company struggles to improve its weak performance.
Henri Pinault's reported decision to hire Renault boss Luca de Meo is an audacious but necessary move to address the twin challenge of sagging sales and mounting debt at luxury group Kering, investors and industry players say.
Luca de Meo is to step down as chief executive of Renault, as Kering hires the 58-year-old Italian to spearhead a turnaround of the struggling French luxury group, according to people briefed on the plan.