Renault Group CEO Luca de Meo will step down on July 15 after five years at the helm of the French carmaker, with reports indicating he is set to take over as CEO of French luxury group Kering, which owns brands including Gucci and Yves Saint Laurent.
Renault confirmed in a statement that de Meo, 58, had chosen to “pursue new challenges outside the automotive sector.” The company said a succession process is already underway, based on a previously defined plan.
De Meo joined Renault in 2020 from Volkswagen Group’s Seat-Cupra brand and was credited with reshaping the French carmaker through his “Renaulution” strategy, which emphasized profitability, a new EV lineup including a revived Renault 5, and the transformation of Alpine into a performance EV brand.
“There comes a time in one’s life when one knows the job is done,” de Meo said in a statement. “The results speak for themselves: they are the best in our history. We have a strong team and an agile organisation.”
He added, “That is why I have decided it is time for me to hand over the baton.”
De Meo’s departure comes just months after he won the Issigonis Trophy at the 2024 Autocar Awards and amid speculation he had turned down other executive opportunities, including a role at Stellantis, citing his ongoing commitment to Renault.
French media outlets Le Figaro and The Financial Times have reported that de Meo is expected to be appointed CEO of Kering, marking a shift from the automotive to the luxury sector.
Renault Group chairman Jean-Dominique Senard praised de Meo as “an exceptional captain of industry,” adding: “The entire company joins me in thanking him for all these years and all the collective challenges successfully met.”