Bizzarri, who has led the company since 2015, will be succeeded by current Managing Director Jean-Francois Palus.

Kering Chairman and CEO Francois-Henri Pinault said: “Jean-Francois 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.”

Reportedly, the move comes as part of a reshuffle aimed at restoring the brand after it failed to bounce back post-pandemic, lagging behind its luxury peers.

Among the changes, Yves Saint Laurent leader Francesca Bellettini has been appointed as Deputy CEO in Charge of Brand Development at Kering, while Group Finance Chief Jean-Marc Duplaix has been named Deputy CEO in Charge of Operations and Finance.

Source: Reuters