Gucci CEO Marco Bizzarri to step down

Marco Bizzarri, president and CEO of Gucci since 2015 and a member of Kering’s executive committee since 2012, is set to stand down from his position, effective 23 September 2023.

It comes as Kering, which owns the Gucci brand, announced a series of appointments aimed at strengthening the organisation.

Jean-François Palus, currently Kering Group managing director, has been appointed president and CEO of Gucci for a transitional period.

Palus will relinquish his position on the board of directors of Kering and relocate to Milan.

Jean-Marc Duplaix, chief financial officer since 2012, has now been appointed Kering Deputy CEO, in charge of Operations and Finance. Jean-Marc Duplaix will head all group corporate functions and be responsible for efficiency and accountability.

Francesca Bellettini, president and CEO of Yves Saint Laurent since 2013, in addition to her current role, was appointed Kering Deputy CEO, in charge of brand development.

All brand CEOs will report to Bellettini, who will be responsible for steering the brands in their next stages. Bellettini will gradually assume her new responsibilities over the coming months and a new Yves Saint Laurent top management lineup has been put in place.

François-Henri Pinault, Kering chairman and CEO, said: “We are building a more robust organisation to fully capture the growth of the global Luxury market.

“I look forward to working with Francesca in her new executive leadership role; while being instrumental in multiplying revenues sixfold since she joined Saint Laurent, she has been a fantastic partner, and all brands as well as the Group will now benefit from her expertise.”

He added: “Jean-Marc has overseen our transformation into an integrated Luxury group, and I count on him to continue infusing discipline and responsibility across the organisation and foster the continuing development of best-in-class practices in all our operations.”

Pinault said: “Jean-François has been my right-hand man and a daily sparring partner for several decades, he will now focus his energy on getting our largest asset in top shape, and I couldn’t be more grateful.

“I want to thank Marco for his spectacular contribution to the success of Gucci and of Kering, and I wish him well in his future endeavours. I am confident that the changes we are announcing today will set Kering on a path to success and profitable growth over the long term.”