Renault CEO ends his tenure
Luca de Meo, who has held the position of CEO of Renault Group for five years, has announced his departure. He plans to focus on new challenges outside the automotive industry. His resignation will take effect from July 15.
During his time at Renault, the Italian developed the Renaulution plan aimed at electrification. Among the key achievements are the launch of models such as the Renault 5, as well as the development of the company’s budget brands.
“There comes a moment when you realize the job is done. At Renault Group, we overcame incredible challenges in less than five years! We achieved what many considered impossible.”
New Horizons
According to reports, de Meo may join the luxury holding company Kering, owner of Gucci and other fashion brands. This comes against the backdrop of a 77% drop in the company’s shares from their 2021 peak.
The Renault Board of Directors has already begun the search for a new leader. De Meo himself previously worked at Volkswagen Group, managing Seat, as well as at Fiat Chrysler Automobiles.
In recent years, Renault has significantly strengthened its market position, especially in the electric vehicle sector. Now the company will have to find a new leader who can continue the course of innovation. At the same time, de Meo’s move to the luxury goods industry indicates his desire to test himself in a completely new environment.