Luca de Meo should become executive chief of the Kering group, luxury conglomerate that runs brands such as Gucci and Balenciaga
Renault CEO Luca de Meo resigned to look for a position outside the automotive industry. According to the French newspaper , He can become the executive chief of Kering, a French conglomerate who controls Gucci.
“Luca de Meo expressed her desire to renounce to pursue other challenges outside the automotive industry”, Said a Renault, who confirmed that from Meo will leave the company in July.
If the trip to Kering is confirmed, the Italian will replace François-Henri Pinault as CEO of the group, which faces high debts. The Pinault family has controlled the conglomerate for over 20 years, according to the Le Figaroand Pinault would follow as director of the company.
In addition to Gucci, Kering holds brands such as Balenciaga and Yves Saint-Laurent.
According to the news agency , The group has lost more than 60% of its value in the last 2 years, marked by a drop in profits and a sudden change of designers at Gucci. Nevertheless, the Italian brand continues as the main asset of the conglomerate.
Of Meo acted as CEO of the French automaker for 5 years, according to the Reuters. He arrived at Renault in 2020 from Volkswagen. That year, the French automaker recorded record losses because of the negative impact of the covid-19 pandemic on sales.
During his period in charge of the company, he was responsible for reformulating a partnership of over 20 years with Nissan, and betting on hybrid engines, while transition to electric vehicles.
