Artemis, the holding company of the Pinault family and the leading investor in Kering , is issuing a 400 million euro ($464 million) bond linked to the performance of the French luxury group's shares, Artemis said on Tuesday.
Francois-Henri Pinault, the billionaire heir who has headed up the French fashion house Kering Group for the past 20 years, has picked the CEO of automaker Renault to be his successor. The stock market's reaction?
Reports of de Meo's switch to Kering sent the luxury group's shares up by nearly 12% on Monday, recording their biggest one-day percentage gain since November 2008.
Francois-Henri Pinault's reported decision to hire Renault boss Luca de Meo is an audacious but necessary move to address the twin challenge of sagging sales and mounting debt at luxury group Kering , investors and industry players say.
Automaker Renault's CEO is widely tipped to be announced imminently as the new boss of luxury group Kering, owner of Gucci, as one of Italy's highest regraded business leaders aruably jumps from the frying pan into the fire.
Shares of Kering, the luxury-goods company behind Gucci, Yves Saint Laurent and other brands, rallied as much as 10% on Monday after reportedly luring Renault's chief executive to run the company.
News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and subsequent reports of him being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors.
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