Barbizet, who was CEO at Artemis and previously held senior positions at carmaker Renault and was a former head of art auctioneers Christie's, will pursue her own projects, Artemis said in a statement.

Artemis, set up by billionaire businessman Francois Pinault, has a stake of just over 40 percent in Kering - a group that spans labels such as Gucci and Alexander McQueen, and also owns Christie's and wines such as Chateau Latour.

Its consolidated assets are worth more than 30 billion euros ($36 billion), according to its website.

Kering has evolved over the years from a consumer group that owned French retailers such as the Fnac and department store chain Printemps into a pure luxury firm, through a merry-go-round of acquisitions and disposals.

Pinault first made his fortune as a timber merchant.

His son Francois-Henri Pinault, now the chairman and CEO of Kering, will take on Barbizet's role at Artemis, according to Le Figaro newspaper.

(Reporting by Gwenaelle Barzic and Sarah White; Editing by Sudip Kar-Gupta and Mark Potter)