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Marco Bizzarri to Exit Gucci Amid Restructuring at Kering

Photo: Daniele Venturelli/Getty Images for Gucci

Since 2015, Marco Bizzari had led the charge at Gucci as CEO, on a mission to “Gucci-fy” the world alongside then-new creative director Alessandro Michele. Together, they significantly increased the revenue and profits of one of Italy’s most notable fashion labels. The Covid-19 pandemic, though, had a huge impact on the brand, playing a role in Michele exiting Gucci back in November. Now, Bizzari’s following suit.

Kering announced on Tuesday that Bizzari’s last day at Gucci will be September 23, 2023. The conglomerate’s managing director, Jean-François Palus, will serve as interim president and CEO until a replacement is hired; he’ll be moving to Milan and leave behind his position on the Board of Directors.

This is one of a series of executive moves revealed in a press release that, according to Chairman and CEO François-Henri Pinault, will help in “building a more robust organization to fully capture the growth of the global luxury market.”

Francesca Bellettini, president and CEO of Yves Saint Laurent, will add the title of Kering Deputy CEO for Brand Development to her resume. (She’ll now lead the growth for Group Houses and oversee all brand CEOs.) Jean-Marc Duplaix, chief financial officer of Kering, is now the company’s Deputy CEO of Operations and Finance, responsible for “enhancing efficiency and accountability.”

Addressing the news of Bizzarri’s departure, Pinault said: “I want to thank Marco for his spectacular contribution to the success of Gucci and of Kering, and I wish him well in his future endeavors. I am confident that the changes we are announcing today will set Kering on a path to success and profitable growth over the long term.”

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Source: Fashionista.com

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