Renault announced on Tuesday that its Chief Financial Officer (CFO), Thierry Pieton, will step down at the end of February to pursue new opportunities. Pieton, who has held the role for two years, leaves the company in better financial health than when he took over, the automaker stated.
He will be replaced by Duncan Minto, currently CFO at Renault’s sports car subsidiary Alpine. Minto, who has been with the company since 1997, will assume the role of CFO at Renault on March 1.
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Renault’s stock initially dropped nearly 2% following the news, but quickly recovered and was trading flat by 0855 GMT. Pieton’s unexpected departure comes at a pivotal time for Renault, as the company finalizes its restructuring plan and strategic overhaul after recording significant losses in 2020.
Over the past two years, Renault has posted sales growth and outperformed its larger European rival, Volkswagen, in 2024, with a slight increase in volume.
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However, Renault is facing challenges in 2025, particularly with the implementation of stricter carbon emissions regulations in the European Union, its largest market. Renault CEO Luca De Meo had previously estimated that these regulations could cost European carmakers up to 15 billion euros ($15.56 billion).
