Kering to Reshuffle Its Board of Directors

By Andrea Figueras

Gucci owner Kering will propose the appointment of three new independent directors to its board at the company's annual general meeting next month.

The French luxury giant said Monday that it will propose the nomination of Rachel Duan, senior vice president of General Electric and president and chief Executive of General Electric Global Markets; Giovanna Melandri, president of Human Foundation; and Dominique D'Hinnin, chairman of Eutelsat Communications.

The proposed appointments follow the departures of Gucci Chairman and Chief Executive Jean-François Palus; independent director Tidjane Thiam, who resigned to devote more time to his political commitments, and Emma Watson, as her term of office expires at the end of the next annual general meeting.

Provided the resolutions are approved at the meeting on April 25, the board of directors will consist of 13 members, 64% of whom will be independent and 55% women, the company said.

Write to Andrea Figueras at [e-mail]

(END) Dow Jones Newswires

03-18-24 0408ET