Kering SA is shaking up its top ranks, appointing new chief executive officers for two of its luxury brands, Yves Saint Laurent and Balenciaga.

The company named Cedric Charbit as CEO of Yves Saint Laurent, with Gianfranco Gianangeli taking his place at the helm of Balenciaga.

French luxury group Kering said on Monday it had named Cedric Charbit as CEO of fashion house Saint Laurent, choosing a leader for its second largest fashion label from within its ranks.

Cédric Charbit will return to Saint Laurent as CEO after eight years leading fellow Kering luxury label Balenciaga.

Balenciaga CEO Cédric Charbit will succeed Francesca Bellettini as CEO of Saint Laurent. Gianfranco Gianangeli will succeed Charbit as CEO of Balenciaga, parent company Kering announced on Monday. Both will report to Bellettini,

Gianfranco Gianangeli, previously CEO at Maison Margiela and currently chief commercial officer at YSL, is to succeed Charbit at Balenciaga.