Luxury conglomerate Kering Group announced that Marco Bizzarri is leaving his post as president and chief executive officer of Italian luxury brand, Gucci, effective September 23.
Bizzari was appointed Gucci CEO in 2015 and served as amember of Kering’s executive committee since 2012. A key member of the Kering leadership group for 18 years, Bizzarri “has masterminded the execution of Gucci’s outstanding growth strategy since 2015, following successful assignments at other Kering Group entities,” according to a press release.
Jean-François Palus, currently Kering Group managing director, has been named president and CEO of Gucci in the interim.
Coinciding with Bizzarri’s departure news, Kering announced Francesca Bellettini, president and CEO of Yves Saint Laurent since 2013, has been appointed Kering deputy CEO, in charge of brand development, in addition to her current role. Kering said all brand CEOs will report to Bellettini, and she will be responsible for steering the group’s houses, which also includes Balenciaga and Bottega Veneta, in their next stages of growth.
In addition, Kering revealed Jean-Marc Duplaix, chief financial officer at Kering since 2012, has been appointed Kering deputy CEO, in charge of operations and finance. Duplaix will head all group corporate functions and be responsible for “enhancing efficiency and accountability,” said Kering.
“We are building a more robust organization 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,” said François-Henri Pinault, Kering chairman and CEO.
“Jean-Marc has overseen our transformation into an integrated Luxury group, and I count on him to continue infusing discipline and responsibility across the organization and foster the continuing development of best-in-class practices in all our operations. 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 endeavors. 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,” he added.