Renault has confirmed that CEO Luca de Meo decided to step down and pursue new challenges outside the automotive sector. After 5 years at the head of Renault Group, the Board of Directors, convened by its Chairman Jean-Dominique Senard, expressed their gratitude to Luca de Meo. The outgoing CEO played a pivotal part in the turnaround and transformation of Renault Group and accepted that his departure would be effective from July 15, 2025. Luca de Meo will continue to perform his duties until that date. The Board of Directors has initiated the process of appointing a new Chief Executive Officer based on the already defined succession plan.
“For five years, Luca de Meo has worked to restore Renault Group to its rightful place. Under his leadership, our company has returned to a healthy foundation, boasts an impressive range of products and has resumed growth. Besides being an exceptional captain of industry, Luca de Meo is also a creative, committed, passionate and inspiring individual. Today, the entire company joins me in thanking him for all these years and all the collective challenges successfully met,” said Jean-Dominique Senard
According to Reuters, a report by newspaper Le Figaro, de Meo is going to be the next new chief executive of Gucci-owner Kering.
Luca de Meo: The miracle man
Luca de Meo joined Renault in 2020 from Volkswagen when the French company was starring at the barrel with sales hitting an all-time low and economy economy-crunching pandemic breathing down its neck. Taking tough tough decisions like making the company more linear and cutting down on the workforce, Renault managed to bounce back. As Renault’s major market is Europe, it is one of the few manufacturers that was not affected by the latest US automobile tariffs.
After putting in his papers, Luca de Meo said, “There comes a time in one’s life when one knows the job is done. At Renault Group, we have faced immense challenges in less than five years! We have achieved what many thought impossible. Today, the results speak for themselves: they are the best in our history. We have a strong team and an agile organisation. We also have a strategic plan ready for the next generation of products. That is why I have decided it is time for me to hand over the baton. I am leaving a transformed company, poised for the future, to apply my experience to other sectors and embark on new adventures.”
The Kering Challenge awaits
According to Le Figaro, de Meo will replace Kering CEO Francois-Henri Pinault, whose family controls the heavily indebted luxury conglomerate and has been at the helm for the last 20 years. Kering declined to comment on Le Figaro’s report. If confirmed, de Meo’s move to Kering, which has lately failed to convince stock market investors of its plans to turn around its Gucci label, would mark a dramatic change at the group. Pinault would remain Kering’s chairman.
