Luca de Meo Steps Down as CEO of Renault Group
After five successful years at the helm of Renault Group, Luca de Meo has decided to step down from his role as CEO. His tenure saw the implementation of the bold Renaulution business plan, which revitalized the company and set it on a path towards future success. Under his leadership, Renault saw the revival of iconic models like the Renault 5 as an EV, the introduction of new SUVs, and the transformation of Alpine into an electric performance brand.
Renault Group announced that de Meo will be leaving the company on July 15 to pursue new challenges outside the automotive sector. The board has already initiated a search for a new CEO based on the previously defined succession plan.
Reports indicate that de Meo is set to take on a new role as the CEO of Kering, a French holding company known for its luxury goods brands such as Gucci and Yves Saint Laurent. This move comes as a surprise to many, as de Meo had previously denied any intention of leaving Renault, emphasizing that he still had work to do at the company.
In a statement, de Meo expressed his satisfaction with the progress made during his time at Renault, stating, “There comes a time in one’s life when one knows the job is done.” He highlighted the company’s strong team, agile organization, and strategic plan for future products, affirming his confidence in leaving behind a transformed and forward-thinking company.
Renault Group chairman Jean-Dominique Senard praised de Meo as “an exceptional captain of industry” and thanked him for his contributions to the company’s success. De Meo’s departure marks the end of an era for Renault Group, with the company now preparing for a new chapter under new leadership.
Despite his impending departure, de Meo’s legacy at Renault will be remembered for his innovative approach to the automotive industry and his efforts to save the European car industry. His advocacy for small European city cars to compete with cheaper Chinese rivals has left a lasting impact on the industry.
