Kering appoints Luca de Meo
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Renault SA is under pressure to quickly find a replacement for Chief Executive Officer Luca de Meo after the shock news of his planned departure, as the industry grapples with rising trade tensions and intense competition from Chinese manufacturers led by BYD Co.
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.
Renault Chief Executive Luca de Meo plans to step down in mid-July and pursue new challenges outside the automotive industry, with French newspaper Le Figaro reporting he is set to become the new boss of Gucci-owner Kering.
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.
The departure from Renault of chief executive Luca de Meo changes nothing for the French carmaker's Alpine Formula One team, de facto principal Flavio Briatore told Reuters on Sunday.