Tidjane Thiam to step down from Kering board to pursue politics

Tidjane Thiam has announced his departure from the board of luxury conglomerate Kering as he looks to devote his time to “political commitments”.

Thiam had been elected president of the Democratic Party of Ivory Coast in December 2023, after which he submitted his resignation from the position of director to the chairman of Kering’s board of directors.

It ends a long period in which Thiam has served for the conglomerate, having initially joined as an independent director in June 2020, as well as serving as chair of the Audit Committee and a member of the Remuneration Committee.

In a regulatory filing, Kering said that on behalf of the board of directors, Kering chairman and CEO François-Henri Pinault “warmly thanks” Thiam for his involvement and contribution to the board.

In light of his departure, the company is now set to proceed with a succession process in the coming weeks, while the composition of the committees are to remain unchanged, only to be reviewed at the time of an impending appointment.

Prior to joining Kering, Thiam had served as the CEO of Credit Suisse Group for five years, and had been appointed to the African Union Special Envoy on coronavirus in early 2020. He had also held a position on the board of directors of 21st Century Fox.