WHO IS HE? De Meo, 58, is from Milan, Italy, and has more than 30 years' experience working in the automotive sector. He graduated from the Luigi Bocconi Commercial University wit

Luca de Meo's departure from Renault likely to cause near-term uncertainty as analysts debate whether it will impact its growth strategy and make investors cautious.

The luxury group confirmed speculations reported by a number of media outlets this weekend. Pinault will retain his role as Kering chair.

Under a new arrangement, the role of Chief Executive Officer will be separated from that of Chairman of the Board of Directors, currently held by François-Henri Pinault

The head of Renault’s budget brand Dacia, Denis Le Vot, is a frontrunner to become chief executive at the French carmaker, following the shock announcement of Luca de Meo’s exit for luxury group Kering.

A series of delicate issues awaits the Italian executive, who comes from Renault: an unfavorable economic climate, significant group debt and the collapse of sales at flagship brand Gucci. Financial markets have responded positively to the announcement of his appointment.

Gucci owner Kering said it was hiring Renault boss Luca de Meo as its new CEO to help revive the debt-laden luxury conglomerate, confirming reports that sent its shares soaring and those of Renault tumbling earlier on Monday.

De Meo plans to pursue new challenges outside the automotive industry after having led the carmaker for five years.

The former chief executive of the carmaker Renault will replace Francois-Henri Pinault as the struggling company seeks a turnaround.

(Reuters) -Gucci-owner Kering has appointed Luca de Meo, currently CEO of French carmaker Renault, as its new chief executive, it said on Monday. Below are some facts about the new head of the French luxury group, whose brands include Gucci, Saint Laurent, and Bottega Veneta.