Gucci CEO Marco Bizzari to exit after eight-year run

As part of luxury goods group Kering’s management reshuffle, Gucci’s CEO and president Marco Bizzari will be leaving the company on 23 September 2023 to restore momentum at Kering’s largest asset, Gucci, according to a statement by Kering. 

Stepping into Bizzari’s position for a transitional period is current managing director Jean-Francois Palus who Francois-Henri Pinault, Kering Chairman and CEO, considers a close partner for many decades, continued the report.

Palus will be relocating to Milan and will be tasked with strengthening Gucci’s teams and operations in order to rebuild influence and momentum at the brand while readying its leadership and structure in the long run.

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“His ability to foster creativity throughout the business, to emphasise the importance of approaching daily tasks in a different way, and to continually challenge and question the status quo has produced an astonishing turnaround in Gucci’s fortunes,” said Kering.

Bizzari who has led Gucci since 2015, will be leaving on the day of the brand’s newly appointed creative director and relatively unknown designer, Sabato de Sarno’s debut show after taking over the reins from Alessandro Michele’s seven-year run at Gucci.

Bizzari first joined Kering as president and CEO of Stella McCartney and served as the president and CEO of Bottega Veneta from 2009 to 2014.

Additionally, Kering’s board of directors has decided to coopt Maureen Chiquet as independent director effective September this year, according to a statement by Kering.

Her appointment will be subject to ratification by the shareholder meeting approving the financial statements for the fiscal year ending December 31, 2023.

“Her varied professional experience, her in-depth knowledge of our sector and her international background will be undeniable assets in enriching the diversity of our Board's profiles,” said Pinault.

Maureen Chiquet, has more than 35 years' experience in the fashion and luxury goods sector which includes nine years as global CEO of Chanel. 

Recently, Kering Beauté signed an agreement to acquire 100% of heritage fragrance house Creed from funds controlled by BlackRock Long Term Private Capital Europe and its current chairman Javier Ferrán as it looks towards strategic future growth.

The acquisition is a major step for Kering Beauté as it slots into its portfolio of renowned luxury brands. The acquisition provides Kering Beauté with the required scale, financial profile, as well as a platform to support the future development of other Kering Beauté fragrance franchises, by leveraging in particular Creed’s global distribution network.

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