Kering SA is restructuring its leadership, appointing new CEOs for Yves Saint Laurent and Balenciaga. Cedric Charbit, the current CEO of Balenciaga, will take over Yves Saint Laurent starting in January. This transition allows Francesca Bellettini, Kering’s deputy CEO, to concentrate fully on brand development, as confirmed by Kering and earlier reported by Bloomberg News.

Cedric Charbit Gianfranco Gianangeli
Cédric Charbit (left) and Gianfranco Gianangeli (right).

Replacing Charbit at Balenciaga will be Gianfranco Gianangeli, currently Yves Saint Laurent’s chief commercial officer. Gianangeli, who joined Kering last year, previously served as CEO of Maison Margiela under OTB Group.

This reshuffle follows recent leadership changes, including Stefano Cantino’s appointment as Gucci CEO, effective January.

Kering recently warned of a decline in annual profit, expected to reach its lowest level since 2016, largely due to weak demand for Gucci products. Gucci remains Kering’s largest contributor to revenue, followed by Yves Saint Laurent, Balenciaga, and Bottega Veneta.