French luxury group Kering SA (OTC:PPRUF) (OTC:PPRUY) appointed former Louis Vuitton and Prada communications executive Stefano Cantino as deputy CEO of Gucci, aiming to revitalize the Italian label.
Cantino is set to assume his new role on May 2. He will be reporting to Jean-François Palus, Gucci's President and CEO, reported Reuters.
"In this newly created position, Stefano Cantino will share with Jean-François Palus the responsibility to define and implement the brand strategy," Kering said.
As per the report, Gucci's recent performance has fallen behind competitors, leading to organizational changes. Last year, CEO Marco Bizzarri stepped down, and Palus assumed the top role.
Cantino transitions to Gucci after a tenure of over five years at Louis Vuitton, where he supervised Communication and Image efforts.
Prior, he spent more than two decades at Prada Group, concluding as Communication and Marketing Director.
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