Kering has named Cedric Charbit as CEO of Saint Laurent and Gianfranco Gianangeli as CEO of Balenciaga, effective January 2.

Charbit will succeed Francesca Bellettini, Kering’s deputy CEO, who will then focus on the brand development of all Kering fashion, leather goods and jewellery houses.

Charbit joined Kering in 2012 as product strategy director of Saint Laurent and became CEO of Balenciaga in 2016. He previously held leadership roles at Emilio Pucci and Printemps.

Meanwhile, Gianangeli is currently the chief commercial officer of Saint Laurent. Prior to that, he worked as CEO at Maison Margiela, global retail director at Givenchy, and associate commercial COO at Prada.

“Having had the privilege of knowing and working closely with both Cedric and Gianfranco for many years, I have no doubts they are the best choices to take the helm of Saint Laurent and Balenciaga,” said Bellettini.

“I am certain they will excel in their new roles, guiding their respective houses toward even greater success.”

Last month, Kering reported that its sales fell 15 per cent to €3.79 billion (US$4.1 million) in the third quarter.