TSLA305.300-27.26%
GM52.340-0.79%
F11.260-0.12%
RIVN13.820-0.2%
CYD23.530-0.45%
HMC33.590-0.81%
TM191.660-1.52%
CVNA326.090-16.91%
PAG170.800-2.48%
LAD309.780-9.6%
AN200.250-4.415%
GPI416.060-1.29%
ABG232.570-5.95%
SAH75.430-4.52%
TSLA305.300-27.26%
GM52.340-0.79%
F11.260-0.12%
RIVN13.820-0.2%
CYD23.530-0.45%
HMC33.590-0.81%
TM191.660-1.52%
CVNA326.090-16.91%
PAG170.800-2.48%
LAD309.780-9.6%
AN200.250-4.415%
GPI416.060-1.29%
ABG232.570-5.95%
SAH75.430-4.52%
TSLA305.300-27.26%
GM52.340-0.79%
F11.260-0.12%
RIVN13.820-0.2%
CYD23.530-0.45%
HMC33.590-0.81%
TM191.660-1.52%
CVNA326.090-16.91%
PAG170.800-2.48%
LAD309.780-9.6%
AN200.250-4.415%
GPI416.060-1.29%
ABG232.570-5.95%
SAH75.430-4.52%
Dealers' #1 source for auto industry news, content, coaching & analysis

Renault CEO Luca de Meo will step down in July

His departure comes after a significant turnaround effort that made Renault Europe's top-performing automaker.

Renault CEO Luca de Meo will be departing the company in mid-July, the automaker announced on Sunday. He will be exploring opportunities outside of the automotive sector, and the French newspaper Le Figaro reported that he will succeed François-Henri Pinault as the CEO of Kering. Kering is a French luxury group that owns prestigious brands such as Yves Saint Laurent, Gucci and Balenciaga.

De Meo joined Renault in 2020 from Volkswagen during a period of record losses. During his five-year leadership, he spearheaded significant cost-cutting and restructuring efforts post-pandemic that turned the automaker’s performance around. His reforms included a substantial reduction in global headcount and production capacity, effectively repositioning Renault as a leaner and more agile automaker. He also overhauled the company’s long-standing, albeit difficult, strategic alliance with Nissan.

Sign up for CBT News’ daily newsletter and get the latest industry stories delivered straight to your inbox.

Under De Meo’s leadership, Renault has become Europe’s top-performing automaker, with its shares surging by 90% over the past five years. In comparison, rival Stellantis is up 15%, while Volkswagen is down 38%. The company’s focus on its European markets largely shielded it from the ripple effect of President Donald Trump’s implementation of new auto tariffs, and it was one of few automakers that didn’t issue a profit warning.

A leadership change at Renault could impact future strategy, particularly regarding electric vehicles (EVs) and global partnerships. The automaker’s focus on electrification, regional market strength, and its relationship with Nissan will be areas to watch as it moves forward under new executive leadership.

Stay up to date on exclusive content from CBT News by following us on Facebook, Twitter, Instagram and LinkedIn.

Don’t miss out! Subscribe to our free newsletter to receive all the latest news, insight and trends impacting the automotive industry.

CBT News is part of the JBF Business Media family.

Jasmine Daniel
Jasmine Daniel
Jasmine Daniel is a staff writer and reporter for CBT News. She holds a BFA in Writing from the Savannah College of Art & Design and has over eight years of experience in SEO, digital marketing, and strategic communication. Her storytelling skills bring breaking news to life, delivering timely, impactful stories that resonate with readers.

Related Articles

Manufacturers In This Article

More Manufacturer News

Latest Articles

From our Publishing Partners