Renault Group announced that Luca de Meo, 58, will step down as CEO on July 15, 2025, to pursue “new challenges outside the automotive sector.” His departure concludes a transformative five-year tenure at the helm of the French automaker. A succession plan is already in place, and the next CEO will be announced shortly.
Renaulution: A Strategic Success
- Record financial results: Renault posted a €4.3 billion operating profit in 2024, with total revenue of €56.2 billion, up 7.4% compared to the previous year.
- Operational improvement: Group margin improved to 7.6%, thanks to €800 million in cost savings and the launch of 10 new vehicles in 2024, with seven more coming in 2025.
- Electrification leadership: The “Renaulution” plan introduced the retro-styled Renault 5 EV, expanded the hybrid range, and launched Ampere — Renault’s EV and software division — in 2023.
- Alliance revitalization: De Meo helped rebalance the Renault-Nissan alliance, focusing less on global volume and more on profitability and innovation.
Kering’s Bold Bet: From Wheels to Wardrobes
- Next step unveiled: De Meo will become CEO of Kering, the luxury conglomerate that owns Gucci, Saint Laurent, Balenciaga, and more.
- Market reaction: Following the announcement, Kering shares rose by nearly 10%, while Renault experienced a dip of up to 8%.
- Luxury turnaround needed: Kering has struggled in recent years, with declining performance from Gucci and overall stock losses of over 60% since 2021.
- Leadership reshuffle: Current CEO François-Henri Pinault will transition to Chairman, while De Meo’s marketing expertise — seen at Fiat and Alpine — is expected to bring a fresh perspective.
Leadership & Legacy
- Automotive pedigree: Born in Milan in 1967 and a graduate of Bocconi University, Luca de Meo has held senior roles at Toyota, Fiat (reviving the Fiat 500), the Volkswagen Group (SEAT, Cupra), and Audi.
- Industry influence: He is also the current president of the European Automobile Manufacturers Association (ACEA), promoting electrification and European industrial policy.
- Recognition: Over his career, he has received national honors from Italy, France, and Spain for his contribution to the automotive sector.
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