In an Historic Shift, Kering’s Board Moves to 55% Female Representation
In a strategic move to reshape its board of directors, Kering is set to welcome three new independent female members, aiming to diversify its leadership team further. The luxury group announced the nomination of Rachel Duan, Giovanna Melandri, and Dominique D’Hinnin as successors to Tidjane Thiam, Jean-François Palus, and Emma Watson, who are exiting their roles. These nominations are slated for approval during the annual general meeting on April 25, signaling a significant shift towards enhancing gender diversity and international representation within the company’s governance.
Rachel Duan, a seasoned executive with a 25-year tenure at General Electric (GE), is among the nominees. Her roles have spanned from Senior Vice President of GE to President and CEO of GE Global Markets, covering the United States, Japan, and China. Duan’s deep understanding of the Asian market and her broad international experience in operational and corporate governance are expected to be invaluable assets to Kering.
Joining Duan is Giovanna Melandri, an economist with dual Italian and US nationality, renowned for her work in sustainability and cultural matters. Melandri heads the Human Foundation, which champions the impact economy and sustainable finance and is a pivotal figure in the Global Steering Group for Impact Investment. With nearly two decades in the Italian Parliament and roles including Minister of Culture and Minister for Youth Policy and Sports Activities, Melandri’s expertise is poised to enhance Kering’s board with her profound insights into sustainability, social impact, and sustainable finance.
The third nominee, Dominique D’Hinnin, a French national and Chairman of the Board of Directors at Eutelsat Communications, brings a wealth of experience from his tenure as Chief Financial Officer and Co-Managing Partner at the Lagardère group. D’Hinnin’s financial acumen and corporate governance knowledge will complement the board’s skill set.
These nominations follow the departures of Jean-François Palus, Tidjane Thiam, and Emma Watson from the board. Palus has transitioned to Chairman and CEO of Gucci, Thiam resigned to focus on his political endeavors, and Watson’s term has concluded.
Upon approval, Kering’s board will comprise 13 members, boasting a 64% rate of independence and representing six nationalities (American, British, Chinese, French, Italian, and Turkish). This strategic reshuffle underscores Kering’s dedication to fostering a diverse and global leadership framework, setting a new standard for corporate governance in the luxury industry.