Renault CEO Luca de Meo Poised to Join Kering as New Chief Executive

Renault CEO Luca de Meo is stepping down in mid-July to pursue a role outside the automotive industry, according to the French carmaker. Reports from Le Figaro suggest he will become the new CEO of Kering (EPA:PRTP), the luxury conglomerate behind Gucci, Yves Saint Laurent, and Balenciaga. If confirmed, he will replace François-Henri Pinault, who has led Kering for two decades and will remain chairman.

De Meo is credited with transforming Renault during his five-year tenure, steering the automaker through record losses in 2020 and executing a successful turnaround strategy. He restructured Renault’s alliance with Nissan, slashed costs, refocused on European markets, and accelerated its shift to electric and hybrid vehicles. Renault’s stock has soared nearly 90% over the past five years—outperforming rivals Stellantis and Volkswagen.

Kering, meanwhile, faces urgent challenges. Gucci, once a major growth driver, has seen slowing sales, leadership shakeups, and investor skepticism. The company’s stock has plummeted over 60% in two years, weighed down by debt and profit warnings. Reuters reports that Pinault has been actively working on a CEO succession plan, with a focus on splitting his dual roles. Kering recently cancelled a scheduled analyst event without explanation, further fueling speculation.

De Meo’s potential move signals a bold leadership shift for Kering, as it seeks to revive its brand momentum and reassure markets. His track record as a turnaround architect could be critical in restoring investor confidence and guiding the luxury group through its next phase.

This would mark the second major leadership exit in Europe’s auto sector in recent months, following Carlos Tavares’ resignation from Stellantis, amid growing pressure from U.S. tariffs and competition from Chinese carmakers.