Is François-Henri Pinault stepping back from Kering?
Paris - 63-year-old François-Henri Pinault, chief executive officer of French luxury group Kering (Kering), is reportedly planning to separate the roles of chairman and chief executive officer. This information was published on Thursday by the business magazine Challenges.
According to the magazine, which did not cite its sources, Pinault will remain chairman, while executive search firm Jouve has been tasked with finding a new chief executive officer. Two internal candidates have been identified: Francesca Bellettini and Jean-Marc Duplaix, both deputy chief executive officers.
Challenges added that an external appointment remains a possibility. Kering declined to comment when contacted.
Pinault has been chief executive officer since 2005, taking over from his father, François Pinault. The group was originally called PPR (Pinault-Printemps-Redoute) before being renamed Kering in 2013.
Kering's sales, still affected by the performance of its flagship brand Gucci, continued to decline in the first quarter of 2025, reaching 3.88 billion euros (down 14 percent). This followed a 62 percent drop in net profit and a 12 percent fall in revenue in 2024. Since January 1, Kering's share price has fallen by over 25 percent.(AFP) This article was translated to English using an AI tool.
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