PINAULT’S SON JOINS FAMILY FIRM

PARIS — Jean Francois Nebel will pilot the Internet activities at Pinault-Printemps-Redoute, following Francois Pinault’s disclosure last week that his son, Francois-Henri, who used to run PPR’s Internet arm, would become co-manager of Financiere Pinault, the family holding company. Francois-Henri Pinault, whom his father has also identified as his successor, will oversee family holding Artemis’s investments in PPR and Bouygues, the French telecommunications group. Nebel, a former executive with Andersen Consulting, joined PPR last April as president of its online activity. Francois-Henri Pinault, 38, has been a member of PPR’s board since 1993. He joined PPR in 1987 and headed the firm’s Fnac music, book and multimedia chain.
In an interview with Le Figaro daily newspaper here, where the succession plan was disclosed, the elder Pinault shrugged off suggestions that his retirement was imminent.
“Certainly not,” he said. “I know I’m not eternal, though, and I have responsibilities to those with whom I work.”
Financiere Pinault is the entity through which Pinault controls Artemis. Artemis holds a controlling stake in PPR, and via Artemis, the group has a 42 percent stake in Gucci Group.

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