Gucci CEO Marco Bizzarri will step down on September 23, 2023. Jean-François Palus, the current group managing director, will lead the brand temporarily.
Bizzarri has served as CEO of Gucci since 2015, overseeing significant growth. Under his leadership, Gucci’s revenue doubled, making it one of the world’s most valuable luxury brands.
However, Gucci’s growth has slowed in recent years due to competition from brands like Louis Vuitton and Hermès. Bizzarri’s departure indicates that Kering, Gucci’s parent company, seeks a new leader to propel the brand forward.
Jean-François Palus brings extensive experience in the luxury goods industry, having worked at Kering for over 20 years. Known for his reliability, Palus is expected to help stabilize Gucci’s business in the short term.
The appointment of Gucci’s permanent CEO remains uncertain. Nonetheless, Bizzarri’s departure signals Kering’s commitment to making strategic changes. The company aims to find a new leader capable of revitalizing Gucci’s growth and restoring its position among the world’s top luxury brands.
