Has Kering Found Its Perfect Match?

On June 16, Kering unveiled a dramatic leadership shift—a move that signals both urgency and ambition.

Industry whispers had already hinted that Kering was on the hunt for a new CEO via headhunters. Depending on who you asked, this either spelled trouble or simply reflected the natural evolution of leadership—after all, not every titan clings to the throne like Bernard Arnault.

But before rumors spiraled, Kering seized control of the narrative. In a surprise announcement, the company revealed that Luca de Meo—currently CEO of Renault—will take over as Kering’s CEO on September 15. François-Henri Pinault will transition to non-executive chairman, stepping back from daily operations to focus on long-term strategy.

Pinault praised de Meo’s global leadership experience, brand acumen, and human-centered values, expressing full confidence in his ability to lead Kering into a new chapter.

For the first time since taking the reins from his father, Pinault is entrusting operational control to an outsider. The market welcomed the news with enthusiasm—Kering’s stock jumped 12.5% in a single day, its biggest gain in two months.

This signals a turning point for Kering, and for de Meo, a bold new challenge far beyond the auto industry.

After months of disappointing results—Gucci in free fall, soft luxury brands stalling, and a stock price in retreat—Kering seems done with half-measures. Just as it made the shocking move to reassign Demna from Balenciaga to Gucci, the group is now placing its future in the hands of a CEO from outside the luxury world—an automotive veteran known for corporate turnarounds.<