Renault CEO Luca de Meo steps down

Renault CEO Luca de Meo will step down on July 15, the company announced in a statement on Sunday, June 15. The Italian leader, who has been in office since July 2020, "has announced his decision to step down in order to pursue new challenges outside the automotive sector," the carmaker wrote.

"The board of directors has launched the process of appointing a new CEO based on the succession plan already defined," Renault Group further wrote.

According to Le Figaro , the 58-year-old executive will take over as CEO of the luxury group Kering, whose majority shareholder, François-Henri Pinault, has decided to reshuffle the management and retain only the presidency. Questioned by Agence France-Presse, the luxury group indicated that it would not comment on this information.

"For five years, Luca de Meo has worked to put Renault Group back where it belongs. Under his leadership, our company has found a healthy base, it now has a magnificent range of products and has returned to growth," said Jean-Dominique Senard, Chairman of the Board of Directors of Renault, quoted in the group's press release.

Luca de Meo began his career at Renault. He then moved to the management of Fiat, where he successfully relaunched the small 500, before revitalizing Seat for the Volkswagen Group.

An excellent communicator and marketing pro, this French-speaking Italian took over as CEO of a company traumatized by more than a year of crisis, in the wake of the Carlos Ghosn affair , with falling sales and disheartened executives leaving.

He accelerated Renault's electrification and its move upmarket in an attempt to get the manufacturer out of the rut.