On 23 September Marco Bizzarri, CEO of Gucci, will leave his position after eight years at the helm of the high fashion brand owned by Kering.
The role of Bizzarri will be temporarily assumed by Jean-Francois Palus, current general manager of the group. In recent years, Gucci, which accounts for about two-thirds of Kering’s profits, has experienced slower growth than other competing brands.
Following the announcement of the change at the top, Kering shares are up 5% in Paris.
Recently, Gucci’s creative direction has undergone a change, with the exit in November of Alessandro Michele, former creative director, and the entry of Sabato de Sarno, who will present his first collection in September. Jean-Francois Palus, right-hand man of Kering CEO Francois-Henri Pinault, will focus on strengthening Gucci’s teams and operations to revive the momentum of the brand.