Gucci owner Kering appoints de Meo
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Gucci parent, Kering, appointed Renault's former CEO, Luca de Meo, as its chief executive, as the company struggles to improve its weak performance.
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.
Henri Pinault's reported decision to hire Renault boss Luca de Meo is an audacious but necessary move to address the twin challenge of sagging sales and mounting debt at luxury group Kering, investors and industry players say.