Luca de Meo, a seasoned executive with more than three decades of experience in the automotive industry, is set to take the helm at Kering, the French multinational group renowned for its portfolio of luxury brands.

The luxury group confirmed speculations reported by a number of media outlets this weekend. Pinault will retain his role as Kering chair.

Can Luca de Meo, known for reviving car brands, rescue Kering? He steps in as CEO to revitalize Gucci and address broader identity issues within the

WHO IS HE? De Meo, 58, is from Milan, Italy, and has more than 30 years' experience working in the automotive sector. He graduated from the Luigi Bocconi Commercial University wit

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.

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.