Overview

• François Provost officially assumed the combined roles of CEO and president of Renault Group on July 31 under a four-year mandate.
• He succeeds Luca de Meo, who resigned in June to become CEO of luxury conglomerate Kering.
• A 23-year Renault veteran, Provost most recently oversaw purchases, partnerships and public affairs.
• In his first roundtable after taking office, Provost prioritized completing the Renaulution plan, cutting electric-vehicle costs by 40% in the Ampere unit and targeting emerging-market growth.
• Renault warned earlier this month that sluggish European demand—a 1% sales drop—forced a cut in margin guidance from 7% to 6.5%, sending shares to an 18-month low.