Renault CEO Steps Down

Big Move at Renault

There’s a big change happening over at Renault Group, where Luca de Meo is stepping away from his role as CEO. After serving a solid five years and navigating some significant changes, he’s choosing to head in a different direction, away from the automotive world. Come July 15, he’s hanging up his Renault hat to don a new one at the luxury holding powerhouse, Kering, the name behind the likes of Gucci, Yves Saint Laurent, and more.

De Meo’s Impactful Leadership

Luca de Meo didn’t just keep the lights on during his time at Renault. This was the man behind the “Renaulution” strategy mapped out in 2021. In a nutshell, the plan was to pivot hard into electrification. Picture launches like the Renault 5 EV, and an all-electric shift for sports car brand Alpine. He wasn’t just paying lip service to budget options, either. De Meo gave attention to the more wallet-friendly Dacia lineup, making sure there was a little something for everyone.

But it’s not just about pushing cars onto the streets. The plan involved making Renault a leaner, sharper competitor while laying out a game plan for the next-gen lineup that’ll keep the brand ticking well past 2025. Under his leadership, Renault even hit a milestone by producing its best financial results yet. Seems like that “Renaulution” nickname wasn’t just for show.

Future Plans

As for Kering, that’s where de Meo is taking his talents next. This opportunity appears to be a new chapter, possibly even as challenging as the one he’s leaving. With Kering’s stock having taken a 77% dip since its previous high in 2021, there’s a mountain to climb there, too. Sounds like it’s right up de Meo’s alley, given his appetite for transformation.

Renault’s Path Ahead

Now, with de Meo departing, Renault’s Board of Directors already has a succession plan in motion. While they’re keeping names under wraps for now, the search for the next CEO is underway. And given the bar set by de Meo, they might well be looking for someone who can keep the fires of innovation burning as brightly as he did.

Reflecting on a Legacy

Looking back at his time with Renault, de Meo seems pretty content with what he’s leaving behind. He called his stint at Renault a period full of challenges and achievements, with the company now prepped for future battles. It’s no wonder he’s moving on with his head held high, eager to tackle new adventures outside the auto industry.

Unlined Opportunities

Before his Renault days, de Meo was no stranger to leadership, having been at the helm of SEAT, CUPRA, Fiat, and others. It’s clear that he’s bringing a wealth of experience and a strategic mindset to Kering, which will no doubt be interesting to watch unfold over there.

For Renault, the script is already set for their electrified future, yet with a new director ready to take over, the plot picks up from here. It’ll be fascinating to watch how it unfolds and to see if the new leadership can maintain the confident strides made under de Meo’s guidance.