Kering shareholders have formally approved the appointment of Luca de Meo as CEO, effective September 15. Known for corporate restructuring expertise, de Meo takes on the challenge of steering the French luxury group through declining sales at Gucci and mounting debt pressures. At the general meeting, de Meo said he would present a detailed strategic plan next spring but would begin implementing measures immediately. He stressed the need to focus on capital allocation efficiency and delivering operational rebound, while reducing debt, cutting costs, and potentially rationalizing parts of the brand portfolio.