Renault Boss de Meo Quits, Takes Over Gucci-Owner Kering

Renault CEO Luca de Meo is stepping down from the French carmaker to take on a new role outside the auto industry.

De Meo will replace François-Henri Pinault, who has led Kering for 20 years. I Photo: Ampere

French newspaper Le Figaro reported that de Meo will become the new chief executive of Kering, the parent company of Gucci. Tassilo Hummel reported for Reuters.

During his five-year tenure at Renault, de Meo successfully turned the company around—revamping its long-standing alliance with Nissan and pivoting toward hybrid and electric vehicles.

If confirmed, his move would mark a dramatic shift as he transitions from automotive to luxury fashion. De Meo will replace François-Henri Pinault, who has led Kering for 20 years.

The Pinault family controls the heavily indebted luxury group.

“Luca de Meo has expressed his decision to step down in order to take on new challenges outside the automotive sector,” Renault said in a statement, adding that he will leave the company in mid-July.

The French government holds a 15% stake in Renault.

If confirmed, de Meo’s appointment could signal a strategic shake-up at Kering, which has struggled recently to convince investors of its plans to revive the Gucci brand. Pinault would remain as chairman. Leigh Thomas, Gilles Guillaume, and Maki Shiraki also contributed to the Reuters report.