Billionaire Pinault CEO Laments Kering Slide as Fortune Dwindles
- Francois-Henri Pinault says teams focused on fixing Gucci
- Kering shares have underperformed LVMH, Hermes this year
Francois-Henri Pinault
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
The billionaire Pinault heir at the helm of Gucci owner Kering SA is unhappy about the fashion company’s stock market performance, which has led to a halving of his father’s fortune in less than three years.
“You’re disappointed, you’re frustrated — me too, I’m the first, be sure of that,” Kering Chief Executive Officer Francois-Henri Pinault told shareholders at the annual general meeting in Paris on Thursday. “It’s a permanent concern.”