NETHERLANDS. The Gucci Group has named Robert Polet as its new president, CEO and chairman of the management board. He succeeds Domenico de Sole, who will leave the company on 30 April (The Moodie Report.com, 5 November 2003).
The appointment will be confirmed at a shareholders’ meeting, to be scheduled in the coming weeks. Polet will also become a member of the management board of Pinault Printemps Redoute, Gucci’s majority shareholder.
Polet, a 48-year-old Dutch national, joins Gucci after 26 years with Unilever. In his most recent role he was president of Unilever’s worldwide ice cream and frozen foods division – a US$7.8 billion business consisting of over 40 operating companies. Tellingly, during his three years at the helm of the division, profit margins increased by +70%.
Before that Polet held a variety of executive positions within Unilever, including chairman of Unilever Malaysia, chairman of Van den Bergh’s and executive vice president of Unilever’s European home and personal care division.
The appointment will undoubtedly raise eyebrows in certain circles. De Sole, who together with designer Tom Ford transformed the fortunes of the group, will be a hard act to follow – and Polet is a virtual novice in luxury goods terms. However he has a solid track record in brand management and is renowned for his astute business acumen.
Adrian Bellamy, chairman of the Gucci Group’s supervisory board, commented: “We warmly welcome Robert Polet as our new president and CEO and wish him every success in his new position. He brings considerable global experience and a deep knowledge of consumer brands to his role. On behalf of my colleagues on the supervisory board I would also like to express special appreciation to Domenico De Sole and Tom Ford, and all our people in the Gucci Group, for their extraordinary contribution over many years.”
Serge Weinberg, chairman of the management board of Pinault Printemps Redoute and chairman of the committee designated by Gucci Group’s supervisory board to search for the new CEO, added: “We are thrilled about Robert’s appointment. His international background, his broad experience in developing brands, his entrepreneurial and managerial talents and his ability to be both a leader and team player make him an ideal choice to run Gucci Group.
“This is a new era for Gucci Group. I’d like to thank Domenico de Sole for the outstanding job he has done, together with Tom Ford, to make Gucci Group the extraordinarily successful company that it is today. Domenico has a worthy successor in Robert Polet. Working with strong management teams and talented designers that are in place in each of Gucci Group’s brands, Robert will keep on building the best luxury group in the world.”
Polet commented: “I’m very honoured and excited to have been named to run Gucci. The different brands with Gucci Group are iconic names in the world of fashion and luxury goods. I consider it a once-in-a-lifetime opportunity to be entrusted with their development. It’s a great challenge to succeed Domenico De Sole, and I’m greatly looking forward to working with the wonderfully talented people of Gucci Group to write a new chapter in its brilliant story.”
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Ford and De Sole resign from the Gucci Group – 5 November 2003
