Shares of Gucci-owner Kering pop 7% on reports Renault's de Meo to be next CEO
Written by Emily J. Thompson, Senior Investment Analyst
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Source: Newsfilter
Kering Appoints New CEO: Kering shares rose 7.2% following reports that Luca de Meo, an auto industry veteran, will become the new group CEO, as the company seeks to revitalize its struggling brands like Gucci and Saint Laurent.
Challenges Ahead for Kering: Despite de Meo's successful track record at Renault, analysts warn that turning around luxury brands is increasingly complex and costly, with significant work needed to rejuvenate Kering's key labels and improve financial performance.
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About TM
Toyota Motor Corp is a Japan-based company mainly engaged in the automotive business, as well as financial services and other businesses. It operates through three business segments. The Automotive segment designs, manufactures, and sells automobiles, including sedans, minivans, compact cars, sport utility vehicles (SUVs), and trucks, as well as related parts and accessories. The Financial Services segment provides financing and vehicle leasing services to complement the sales of automobiles and other products manufactured by itself and its affiliates. The Other segment engages in information and communications services. It also oversees manufacturing and sales companies, conducts public relations and research activities, oversees financial companies, and develops various mobility products, primarily software.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
