Kering named Armelle Poulou as its new chief financial officer Friday, replacing Jean-Marc Duplaix who was promoted to the role of deputy CEO last week.

The move comes amid a broader shake-up at the luxury giant as it seeks to reinvigorate growth. On Thursday, the company announced it was acquiring a 30 percent stake in Valentino, while last week it re-shuffled its executive ranks.

Managing director Jean-François Palus is headed to Milan to serve as Gucci’s interim chief executive following the ouster of the flagship brand’s leader Marco Bizzarri. To cover the key executive’s headquarters role and strengthen governance, Kering named two deputy CEOs: Duplaix will cover operations and finance, while Saint Laurent chief executive Francesca Bellettini has been promoted oversee brand development across the group (while continuing to lead the French brand).

Poulou attended HEC (the same French business school as Duplaix, Palus and chairman François-Henri Pinault) before working in financial roles at Procter & Gamble, Hewlett-Packard and EDF. She joined Kering in 2019.

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As Gucci’s CEO Steps Down, Saint Laurent’s Chief Steps Up

Marco Bizzarri led the Italian luxury giant through a historic expansion before the business struggled to bounce back from the pandemic. Parent company Kering announced the move as part of a broader executive shakeup after which Saint Laurent CEO Francesca Bellettini will oversee all the group’s brands.