Kering’s New CEO to Cut Debt, Costs to Revive Gucci Owner (1)

Kering SA’s incoming chief executive officer vowed to slash debt and cut costs in a bid to revive the struggling luxury owner of Gucci.

“We will be fast, efficient and decisive,” Luca de Meo said in his first appearance before shareholders in Paris Tuesday. “Decisions will not always be easy,” he added.

Luca de Meo

Photographer: Benjamin Girette/Bloomberg

De Meo, who officially starts on Sept. 15, intends to present a strategic plan to investors in Spring 2026, but said that won’t stop him from making tough decisions by year-end if warranted.

Speaking to reporters on the sidelines of the meeting, De Meo said he sees ...