By  on April 12, 2017

PARIS — The exit of Kering’s chairman and chief executive officer François-Henri Pinault from Puma’s board of directors on Wednesday has done nothing to calm persistent rumors that the French luxury group is looking to offload the sporting goods maker. But the focus for Kering, according to a company spokesperson, remains on getting Puma back on track in terms of profitability.

Defending the decision to shareholders attending Puma’s AGM on Wednesday at the company’s headquarters in Herzogenaurach, Germany, Jean-François Palus, group managing director of Kering, who will retain his role as chairman of the Puma board, put it down to a streamlining of the decision-making process.

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