No quick fix for Gucci as investors cheer new look management

Shares rose more than 6% at announcement of new CEO and head of brand development

Gucci chief Marco Bizzarri is to leave in September, parent group Kering has said.

Kering shares rose more than 6% as investors cheered news of a major management reshuffle at the luxury group, aimed at reviving sales at star label Gucci.

Gucci has lagged rivals Louis Vuitton, or LVMH, and Hermes in recent years, struggling to keep pace with their rebound from the impact of the pandemic.