Gucci CEO Marco Bizzarri Is Stepping Down

The fashion label’s owner, the Kering group, unveiled a new roster of executives as it tries to begin a new chapter and leave the shadow of its rival, LVMH.

For years, Marco Bizzarri was one of the most well-known and respected executives in the global luxury business. Bald and boldly suited, he was the architect behind the meteoric success of Gucci, the largest fashion brand in the stable owned by the French group Kering, which also includes Balenciaga, Bottega Veneta and Saint Laurent.

But on Tuesday, after a bruising year of declining sales and the abrupt exit of Gucci’s longtime creative director, Alessandro Michele, Mr. Bizzarri’s departure from the fashion house

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