By Mimosa Spencer and Tassilo Hummel
PARIS (Reuters) - French luxury group Kering has named Francesca Bellettini as chief executive of Gucci, replacing Stefano Cantino after only nine months at the fashion brand's helm.
The ousting of Cantino and Italian Bellettini's appointment is the first big change in a management shake-up under new group CEO Luca de Meo.
Bellettini, who started her career as a banker before climbing the ranks of Kering's labels, has been one of the group's two deputy CEOs since
2023, overseeing a stable of brands including Saint Laurent, Balenciaga and Bottega Veneta.
Jean-Marc Duplaix, the other former deputy CEO, will remain as Kering's chief operating officer, the company said, adding that the deputy CEO roles will be scrapped.
"I intend to build a leaner and clearer organisation," de Meo said in a statement.
Analysts had urged de Meo to address the governance structure that sandwiched two deputy CEOs between the chief executive and other senior leaders.
Bellettini will now lead efforts to address the problems of Kering's former star label, sales of which have slid by double-digit percentages over the past two years.
Even before officially running the Italian fashion house, Bellettini played a crucial role in many of the brand's recent decisions, including the hiring of Demna as its design chief.
The Georgian designer's first runway show will be held next spring, but some products from the designer will be available in a selected number of Gucci stores immediately after the brand introduces his new styles with a film at Milan Fashion Week on September 23.
Seen as a likely internal succession candidate for Kering's CEO position, Bellettini had become the subject of speculation when the group announced in June that it would hand the job to former Renault boss de Meo.
Speaking at a shareholder meeting last week, de Meo said he will hurry to get Kering back on track, with decisions to be expected before the end of the year.
"These decisions won't always be easy," he said.
Cantino, who Gucci said would exit the company, had joined the label from LVMH-owned rival Louis Vuitton, where he was in charge of communications and image strategy.
(Reporting by Tassilo Hummel; Writing by Makini Brice; Editing by David Goodman)
