, Columnist
Kering’s New CEO Has the Toughest Job in Luxury
Luca De Meo must balance debt reduction with creativity.
Kering CEO Luca De Meo.
Photographer: THOMAS SAMSON/AFPWhen Luca de Meo, the former chief executive officer of Renault SA, assumes the top spot at Gucci-owner Kering SA next week, he has a tricky transformation ahead.
Replacing the scion of the controlling family, he must reduce debt and tackle bloated executive ranks but most critically get Gucci firing on all cylinders again. This would be difficult enough at a carmaker, where costs can simply be slashed. But luxury relies on the visions of designers and marketing spending to stand out in a crowded market.