Kering (KER) Status Update summary

Leadership transition and governance changes

• Luca de Meo appointed as CEO, joining on September 15, pending shareholder approval at a meeting scheduled for September 9, following a board-approved process that began in early 2023.

• Chairman and CEO roles will be officially split, with François-Henri Pinault remaining as Chairman, aligning with best practices for listed companies.

• The lead independent director role, established in 2019, will be maintained to uphold governance standards.

• Governance changes mark a new phase in the group's development.

Profile and experience of new CEO

• Luca de Meo brings 30 years of experience in the automotive industry, including CEO roles at Renault Group, SEAT, CUPRA, and Ampere, and board positions at Ducati, Lamborghini, and TIM.

• Recognized for brand expertise, fostering strong corporate culture, and holding a business administration degree from Bocconi University.

• Chosen for his proven track record in transformation, innovation, and team leadership across global companies.

Rationale and expectations for new CEO

• The search prioritized candidates with international experience, brand management expertise, and a fresh vision for the sector.

• His outsider perspective is seen as an asset to address structural changes in the luxury industry.

• He will have full autonomy to set priorities and review the organization, supported by experienced deputies.

• Leadership change aims to bring new vision and steer the group into its next development phase.