Overview

• Renault named finance chief Duncan Minto as interim CEO on July 15 to handle daily operations in the wake of Luca de Meo’s departure.
• The automaker cut its full-year operating margin forecast to 6.5% from above 7% and trimmed its free cash-flow target to €1–1.5 billion.
• June’s weaker results were driven by slightly lower volumes, underperformance in Europe’s light commercial vehicle segment and billing timing differences.
• Renault plans to intensify cost-reduction measures across the business to support profitability and cash generation.
• Chairman Jean-Dominique Senard will lead the search for a permanent CEO to succeed Luca de Meo, who left to join luxury group Kering.