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Gucci and YSL lose chief execs

18/02/2011
Gucci Group chief executive Robert Polet and Yves St Laurent chief executive Valerie Hermann are leaving their posts, French luxury group PPR SA has stated in a press release.

The company said that Mr Polet’s responsibilities at the company’s luxury arm will be handled by François-Henri Pinault, chairman and chief executive of PPR. Ms Hermann will “seize” an opportunity in the US, the company said. She will be replaced by Paul Deneve, who was deputy chief executive of Lanvin until 2008. Mr Polet is said to be a hands-off manager who left the daily details of brand operations up to the heads in charge of each brand.

The company said the reorganization of its luxury division is part of its effort to refocus the company around luxury and sports brands with global appeal.

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