Gucci Shakeup Sends Kering Shares Higher on Brand Rebound Bets
- Bizzarri to be replaced on interim by Jean-Francois Palus
- Kering share price performance has lagged rivals LVMH, Hermes
Marco Bizzarri
Photographer: Tristan Fewings/Getty Images for Kering
Kering SA shares rose the most in eight months on optimism the departure of Gucci Chief Executive Officer Marco Bizzarri will mark a step toward reviving the once high-flying Italian label.
Bizzarri, who’s been running Gucci since 2015, will depart on Sept. 23, Kering said Tuesday. He’ll be replaced by Jean-Francois Palus, currently group managing director, who’ll lead the brand for a transitional period.