Overview

• On June 16, Kering confirmed that Luca de Meo will take over as chief executive on September 15 after stepping down as Renault CEO on July 15.
• François-Henri Pinault will retain the board presidency following the split of CEO and chairman roles.
• Renault shares fell more than 6 percent after de Meo’s departure announcement while Kering’s stock rose by a similar margin.
• Kering has faced a 14 percent drop in first-quarter sales at its flagship brand Gucci and a 12 percent decline in 2024 revenue.
• De Meo led Renault’s turnaround since 2020, driving its Renaulution plan and boosting its electrified model lineup.