Paris (Reuters) -The new director general of Kering, Luca de Meo, will present a strategic roadmap in the spring of 2026, said the president of the luxury group on Tuesday, François -Henri Pinault.

“There will be a presentation of the Luca strategic roadmap and its teams which will be presented in the spring of 2026,” he said on the occasion of an extraordinary general meeting.

“We will not wait for spring 2026 to make decisions,” added the president of Kering.

“There will be important decisions that will be made by the end of the year,” he continued. “In particular, Luca has the whole room for maneuver necessary to define the organization he considers the best for the group”.

The status of the two Directors General Deputy General of Kering, Francesca Bellettini and Jean-Marc Duplaix, is in particular subject to questions since the announcement of the arrival of Luca de Meo.

Announced in June to everyone’s surprise, the appointment of the former Renault leader was approved on Tuesday at 98.97% by the shareholders of Kering.

Important expectations now weigh on the Italian leader, Kering suffering from the fall in sales of his Gucci-shared house as well as his second largest brand, Saint-Laurent, all accumulated at a high level of debt.

“I am well aware that over the past two years, we have encountered important difficulties, but everything is done today to be able to bounce back and it will be translated […] By revaluation of action, “promised François-Henri Pinault.

Luca de Meo judged that his appointment constituted “a daring and visionary bet”, and declared to arrive with “a free, unwaid and resolutely turned spirit”.

“We must continue to delete ourselves, reduce our costs and where it is essential, rationalize, reorganize, reposition some of our brands,” said the new managing director, who is committed to “acting without delay” with “clear and strong choices”, while warning that “these decisions will not always be easy”.

Compensation of 20 million euros

Luca de Meo’s remuneration was criticized by shareholders present at the Assembly, in particular his compensation for his departure from Renault.

For 2025, the remuneration policy of the new CEO provides for an annual fixed part of 2.2 million euros or 650,959 euros in pro rata from its assumption of functions, a maximum variable part of 1.21 million euros, to which is added a compensation for taking up 20 million euros including three -quarters in cash (15 million euros) and a quarter subject to certain conditions in Kering shares.

This very high compensation must compensate for the remuneration “of long-term lost by Luca de Meo by joining Kering” and by leaving Renault, explains a presentation published by the group upstream of the Assembly.

“The amount is actually important, but I see it as an investment of the group on its future,” said François-Henri Pinault, adding that “investing 20 million euros in the long-term future of the group” constituted “for [lui]”A” very good investment “.

This remuneration policy was also approved at 89.68% of the votes during the shareholders’ vote.

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(Report Florence Lève, edited by Augustin Turpin and Blandine Hénault)

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