Kering (KER) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened with the constitution of the bureau, confirmation of quorum, and a review of the agenda, which included six resolutions—three ordinary and three extraordinary—covering governance, remuneration, and board appointments.

• Chairman and CEO François-Henri Pinault opened the meeting, outlining the agenda and regulatory matters to be addressed.

• The agenda included governance updates, remuneration policies, board appointments, amendments to the Articles of Association, and a Q&A session.

Board and executive committee updates

• Announced the separation of Chairman and CEO roles, with François-Henri Pinault remaining as Chairman and Luca de Meo appointed as CEO effective September 15, 2025.

• The selection process for CEO was rigorous, involving two headhunting firms and a shortlist of five candidates, culminating in the choice of Luca de Meo for his strategic and brand management expertise.

• Board composition post-appointment: 14 members, 58% independent, gender parity, and six nationalities represented, with expertise in climate change and executive leadership.

• Proposed appointment of Luca de Meo as Director for a non-standard term, subject to shareholder approval.

• Age limits for Chairman and CEO were raised to 80 and 70, respectively, to ensure governance stability and flexibility.

Strategic initiatives and plans

• The new CEO emphasized a vision of transformation, focusing on innovation, capital allocation, and operational rebound, with a strategic plan to be presented in spring 2026.

• Immediate actions include deleveraging, cost-cutting, rationalization, and brand repositioning, with key decisions to be made before year-end.

• The group is already working on strategic changes and will not wait until 2026 to implement major decisions.