Kering appoints Luca de Meo
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A series of delicate issues awaits the Italian executive, who comes from Renault: an unfavorable economic climate, significant group debt and the collapse of sales at flagship brand Gucci. Financial markets have responded positively to the announcement of his appointment.
The former chief executive of the carmaker Renault will replace Francois-Henri Pinault as the struggling company seeks a turnaround.
The struggling French luxury group is set to name Renault Chief Executive Luca de Meo as CEO, replacing Francois-Henri Pinault, people familiar with the matter said.
PARIS (Reuters) -Shares in Kering rose in early trading on Monday while stocks in Renault fell after reports the French carmaker's CEO Luca de Meo was poised to become the new chief executive of the luxury goods maker.