Renault Kicks Off CEO Search
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Renault SA’s impending loss of Chief Executive Officer Luca de Meo calls into question the French carmaker’s recovery, with the board having to replace a second senior leader in a matter of months.De Meo will step down July 15,
The boss of French state-backed car giant Renault has quit unexpectedly after warning that European manufacturers were struggling to compete with cut-price Chinese rivals.
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.
Nissan Motor plans to reduce its stake in French automaker Renault from 15% to 10%, according to CEO Ivan Espinosa.
The Italian De Meo was at the helm of the French car brand for five years. He remains true to the "lifestyle" theme and moves to the luxury fashion group Kering.
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News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and sources saying he is being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors.
PARIS (Reuters) -Renault chief executive Luca De Meo is leaving the carmaker, the company said on Sunday, shortly after paper Le Figaro reported he was set to take over the lead at struggling luxury group Kering.
Renault SA tumbled the most since July as Chief Executive Officer Luca de Meo prepared to leave the French automaker and join Kering SA as its next leader.