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Speculation swirls over who may one day lead luxury brand, LVMH

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London (CNN)The president and CEO of Gucci will step down later this year as part of a leadership overhaul at its French parent company Kering aimed at capturing more of the booming global market in luxury goods.

Marco Bizzarri, who has been at the helm since 2015, will leave on September 23, Kering (PPRUF) said in a statement Tuesday. Jean-François Palus, who currently serves as Kering's managing director, will take over on a transitional basis.

Kering, which also owns the Yves Saint Laurent and Balenciaga fashion houses, said Palus was "tasked with strengthening Gucci's teams and operations" in an effort to rebuild the Italian brand's "influence and momentum."

François-Henri Pinault, Kering's chairman and CEO, added that Palus would "focus his energy on getting our largest asset in top shape."

Gucci accounted for just over half of the €20 billion ($22 billion) in revenue Kering booked last year.