Gucci's CEO is stepping down as its French parent shakes up leadership

The president and CEO of Gucci is stepping down later this year. It's the latest shakeup to the luxury fashion brand and comes as part of a series of changes at its parent company, the French conglomerate Kering. Marco Bizzarri will depart the Italian design house in September after eight years at the helm. Kering said Tuesday that Bizzarri “masterminded the execution of Gucci’s outstanding growth strategy since 2015.” He'll be replaced by Kering managing director Jean-François Palus, who will be “tasked with strengthening Gucci’s teams and operations” as the brand “rebuilds influence and momentum.” The shakeup leaves questions about the future of Gucci, whose creative director of eight years, Alessandro Michele, left the brand in November.