Luca de Meo, the current CEO of Renault, has been named the new Chief Executive Officer of French luxury conglomerate Kering, effective September 15. He will succeed François-Henri Pinault, who will remain as Chairman of the Board of Directors.
De Meo will step down from his role at Renault in mid-July before transitioning to Kering, home to prestigious brands such as Gucci, Saint Laurent, and Balenciaga. His appointment follows months of speculation about leadership changes at the luxury group.
In a statement, de Meo expressed enthusiasm for his new role: “I thank François-Henri Pinault and the Board for entrusting me with leading Kering into its next chapter. I am inspired by the strength of its brands and the talent of its teams. Together, we will reinforce Kering’s position as a key player in luxury.”
Pinault, who has led Kering for two decades, emphasized the strategic shift: “After transforming Kering into a global luxury leader, the Group is ready for a new phase. Luca’s leadership experience, brand expertise, and corporate vision make him the ideal successor to drive our future growth.” He confirmed he would continue supporting the company as Chairman.
Background and Challenges Ahead
Rumors of de Meo’s move intensified after Kering abruptly canceled an analyst meeting on June 16, 2025. The group has faced significant headwinds, particularly with Gucci, its flagship brand, which has struggled with declining sales. Kering’s stock has dropped over 60% in two years, and the company carries more than €10 billion ($11.5 billion) in debt.
De Meo’s turnaround success at Renault—streamlining operations, accelerating electrification, and stabilizing the Nissan alliance—has fueled expectations that he will implement a similar revival strategy at Kering. Analysts suggest his appointment signals a push to reinvigorate Gucci and optimize the group’s portfolio.
Kering has yet to comment on the broader strategic plans, but industry watchers anticipate a major restructuring under de Meo’s leadership.
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