Renault loses its boss. De Meo goes into the fashion industry
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.
(Image: Renault)
Luca De Meo is moving from the top of Renault to the luxury group Kering, known for Gucci and Balenciaga, among others. According to his future employer, he will start work there on September 15.
At Renault, he has once again proven that the manager has a knack for brand development and marketing, as he led the brand, which needed restructuring five years ago, to high profitability. He visibly focused on a certain “lifestyle factor” with retro-style electric car models such as the Renault 4 and 5 E-Tech, as well as the Alpine sub-brand.
His career had taken him through positions at car manufacturers Toyota, Fiat, Seat, VW, and others. On June 15, he surprisingly handed in his resignation from the traditional French brand.
Stays with lifestyle
Kering's majority owner Francois-Henri Pinault is still both Chairman of the Executive Board and Head of the Board of Directors, a dual role that will end with De Meo's arrival. The group manages well-known brands such as Gucci, Yves Saint Laurent, Balenciaga and Bottega Veneta. Kering has been in trouble since Covid-19, and De Meo is expected to do something similar to what he previously did at Renault.
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Renault had previously announced that the manager was stepping down after five years at the helm of the group, which also owns the Dacia brand, to take on “new challenges outside the automotive sector”. De Meo will leave the company on July 15. The car manufacturer has not yet announced who will succeed De Meo at Renault.
(fpi)