The Renault Group is searching for a brand new CEO following Luca de Meo’s stunning resolution to resign after 5 profitable years on the helm of the French model. Having beforehand contributed to the rise of Volkswagen Group’s SEAT model throughout a five-year tenure, he joined Renault in July 2020. On the time, the corporate was dealing with main challenges, together with a report internet lack of €7.3 billion within the first half of the 12 months.
Nevertheless, de Meo managed to revive Renault by specializing in higher-margin merchandise and lowering growth instances. His “Renaulution” turnaround plan laid the groundwork for a revitalized lineup centered on SUVs, on the expense of slower-selling fashions. The Renault 5 was reborn as an EV, quickly adopted by a crossover counterpart within the Renault 4. Moreover, the Twingo is ready to return subsequent 12 months because the model’s entry-level electrical automobile.
Picture by: Renault
De Meo’s efforts to assist Renault bounce again additionally included strengthening Dacia’s presence in Europe by launching the Bigster compact SUV. A low-cost electrical mannequin in-built Europe is predicted in 2026, seemingly changing the China-made Spring and presumably serving as an inexpensive model of the Twingo.
Investments in Alpine have secured the area of interest model’s electric-only future, with a number of EVs on the horizon. The A290 scorching hatchback was not too long ago joined by the A390 crossover, and an electrical successor to the A110 is deliberate later this decade. Alpine additionally intends to launch a 2+2 variant of the sports activities automobile, named the A310, together with bigger SUVs aimed on the North American market.
De Meo is departing to pursue a task outdoors the automotive trade, with Le Figaro reporting he’ll change into the brand new CEO of Kering. The French multinational holding firm focuses on luxurious items and owns manufacturers reminiscent of Gucci, Balenciaga, and Yves Saint Laurent.
The Renault Group’s Board of Administrators is now looking for a successor, with de Meo’s remaining day set for July 15. The 58-year-old Italian government leaves happy with his accomplishments main the corporate with the diamond emblem:
“There comes a time in a single’s life when one is aware of the job is finished. At Renault Group, we now have confronted immense challenges in lower than 5 years! We now have achieved what many thought unimaginable. At the moment, the outcomes converse for themselves: they’re the most effective in our historical past.”
