Gucci Owner Taps Renault's De Meo as CEO
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Free Malaysia Today on MSNRenault's CEO Search May Include Insider Le Vot, Stellantis' Picat, Analysts SayFILE PHOTO: Denis Le Vot, Dacia CEO and Renault Group Chief Supply Chain Officer, speaks during a press conference on media day at the 2024 Paris Auto Show in Paris, France, October 14, 2024. REUTERS/Benoit Tessier/File Photo
Renault SA’s impending loss of Chief Executive Officer Luca de Meo calls into question the French carmaker’s recovery, with the board having to replace a second senior leader in a matter of months.De Meo will step down July 15,
The boss of French state-backed car giant Renault has quit unexpectedly after warning that European manufacturers were struggling to compete with cut-price Chinese rivals.
Luca de Meo's departure from Renault likely to cause near-term uncertainty as analysts debate whether it will impact its growth strategy and make investors cautious.
Nissan Motor plans to reduce its stake in French automaker Renault from 15% to 10%, according to CEO Ivan Espinosa.
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The Italian De Meo was at the helm of the French car brand for five years. He remains true to the "lifestyle" theme and moves to the luxury fashion group Kering.
De Meo's unexpected departure marks the second top-level exit from a European carmaker in six months, after Carlos Tavares resigned from Stellantis.
After impressing with his turnaround of French automaker Renault, Luca De Meo is widely expected to be named as the new boss of Gucci owner and luxury powerhouse Kering.
Despite recent divestments, Nissan's CEO insists the move from Renault is strategic, not a breakup. Discover what this means for the future of their enduring automotive alliance.
News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and sources saying he is being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors.