Kering Welcomes New CEO Luca de Meo with Strategic HR Appointment
PARIS – In a significant move signaling a fresh direction for Kering, Luca de Meo officially took the helm as CEO on Monday. His first major decision was to recruit Thomas Cuntz, a seasoned human resources expert from Renault Group, to lead the newly established role of Global Talent Development and People Engagement at the luxury fashion conglomerate.
A New Era for Kering
Luca de Meo’s appointment as CEO comes at a pivotal time for Kering, a company known for its prestigious brands such as Gucci, Saint Laurent, and Balenciaga. De Meo, who previously served as CEO of Renault, is expected to bring a transformative approach to Kering, particularly in the realm of talent management. His leadership style emphasizes competence over loyalty, a shift that has been welcomed by industry analysts.
Thomas Cuntz: A Strategic Hire
Cuntz, who spent nearly a decade at Renault as Vice President of Executive and Global Talent Management, announced his new role on LinkedIn. He expressed enthusiasm for leading key HR functions that are integral to Kering’s people strategy. His responsibilities will encompass various aspects of human resources, including talent acquisition, internal mobility, performance management, and fostering a culture of inclusion and diversity.
Cuntz’s background is impressive; he is a graduate of EDHEC Business School in Paris and began his career in recruitment at Société Générale. Over his 24 years at Renault, he witnessed significant transformations within the company, gaining experience in various corporate and HR roles. His extensive experience positions him well to navigate the complexities of Kering’s workforce.
Industry Reactions and Expectations
The luxury sector has been closely monitoring Kering’s approach to talent management, especially in light of recent criticisms. Analysts have pointed out that the company has struggled with its human resources strategy, which has implications for its overall performance. In a research note released on the same day as Cuntz’s announcement, HSBC analyst Erwan Rambourg expressed optimism about de Meo’s leadership. He stated that future management decisions would prioritize competence over connections or tenure, a sentiment that resonates with the evolving landscape of corporate governance.
Rambourg drew parallels between Kering’s potential restructuring and Tiffany & Co.’s recent changes, suggesting that Kering might retain some legacy performers while also bringing back top talent who had previously left the company. This strategy could involve recruiting from both within the luxury sector and other industries, aiming to create a more dynamic and effective workforce.
Cuntz’s Vision for Kering
In his LinkedIn post, Cuntz emphasized his commitment to enhancing Kering’s HR practices to align with the company’s strategic goals. He highlighted the importance of employee engagement and the need for a responsive HR framework that listens to employee feedback. This approach is particularly relevant in today’s corporate environment, where employee satisfaction and retention are critical for success.
Cuntz will report directly to Béatrice Lazat, Kering’s Chief People Officer since 2016. His appointment is seen as a strategic move to bolster Kering’s human resources capabilities, especially as the company navigates the complexities of the luxury market.
The Broader Context of Kering’s Transformation
Kering’s recent leadership changes come amid a broader transformation within the luxury industry. As consumer preferences shift and sustainability becomes a focal point, companies are reevaluating their operational strategies. Kering has been at the forefront of this movement, emphasizing sustainability and ethical practices in its business model.
The luxury sector has faced challenges in recent years, including economic fluctuations and changing consumer behaviors. As a result, companies like Kering are under pressure to innovate and adapt. De Meo’s leadership, coupled with Cuntz’s expertise in talent management, could be pivotal in steering Kering through these turbulent waters.
Conclusion
Luca de Meo’s appointment as CEO and the strategic hiring of Thomas Cuntz mark a new chapter for Kering. With a focus on competence and a commitment to enhancing HR practices, the company is poised to navigate the complexities of the luxury market effectively. As Kering embarks on this transformative journey, the industry will be watching closely to see how these changes impact its performance and reputation in the competitive landscape of luxury fashion.
