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.
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