Kering shares rose more than 5% today as investors cheered news of top management changes at the luxury group, aimed at restoring momentum at its star label Gucci.
Kering last night announced that Marco Bizzarri, who has led Gucci since 2015, will leave the company on September 23.
It also named managing director Jean-Francois Palus as Gucci's new CEO and president for a transitional period.
"Kering's revised organisational structure and change in leadership roles are a welcome step to further align group talent to better serve the needs of its Maisons," RBC analysts wrote in a note.
However, the changes were more of a "logical evolution" than a "big bang", said Citi, noting they would reinforce "decision-making, governance and succession while showing further determination to transform Gucci".
"One key executive is leaving whilst no fresh blood has been announced yet," said analysts at Exane BNP Paribas said in a note.
As part of the changes, Francesca Bellettini, who has run fast-growing fashion label Yves Saint Laurent since 2013, has been named Kering's deputy CEO in charge of brand development.
Troup finance chief Jean-Marc Duplaix has also been named Kering deputy CEO in charge of operations and finance.
Kering reports its first-half earnings on July 27.
