Incoming Kering CEO de Meo: Fixing group requires 'clear and strong' decisions
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Incoming Kering CEO Luca de Meo emphasized the need for "clear and strong" decisions to revitalize the struggling luxury group during a shareholder meeting. He plans to implement changes aimed at making the company faster, more integrated, and profitable by year-end, including reducing debt and costs, and possibly reorganizing brands. De Meo's appointment comes at a challenging time for the luxury sector, impacted by a property crisis in China and trade tensions affecting U.S. consumer confidence. A formal vote on his appointment is expected later today.
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