Luca de Meo is the new CEO of Kering. The BoD chaired by François-Henri Pinault approved the appointment of the manager who will now lead a colossus headed by fashion brands Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Brioni, and McQueen. De Meo has a 30-year career in the automotive industry that began at Renault in 1992, before joining Toyota Europe. He then worked in the FIAT Group, where he served as director of the Lancia, FIAT and Alfa Romeo divisions, CEO of Abarth and marketing director of the FIAT Group. In 2009 he joined the Volkswagen Group as marketing director for the Volkswagen Group and brand. In 2012 he was appointed to the Board of Directors of Audi AG. Since 2015 he has been President of Seat and Cupra. Since 2020 state has been CEO of Renault Group and also held the position of CEO of the eponymous brand. He will now have to take charge of the luxury industry. De Meo arrives after a horrible year for Kering, whose shares have fallen 45% in the past 12 months and which in 2024 posted revenues down 12% to €17.1 billion and net income of €1.1 billion, with a 62% fall.