Reports of de Meo’s switch to Kering sent the luxury group’s shares up by nearly 12% on Monday, recording their biggest one-day percentage gain since November 2008.

The former chief executive of the carmaker Renault will replace Francois-Henri Pinault as the struggling company seeks a ...

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The automaker announced on Sunday, June 15, that its chief executive had decided to step down after five years in the role.