Luca de Meo's Leap: From Renault's Helm to Kering's Luxury Transition
Kering is set to hire Luca de Meo, CEO of Renault, in a bid to revitalize the luxury group. De Meo's move to Kering sent its shares skyrocketing, while Renault experienced a decline. De Meo's leadership and turnaround skills could prove vital in addressing Kering's current challenges.
Kering, the luxury conglomerate behind Gucci, is on the verge of appointing Renault CEO Luca de Meo to lead its operations. According to Reuters, the move has seen Kering's stocks rise significantly, contrasting with Renault's shares which dropped following de Meo's announced departure.
Renault confirmed de Meo will exit mid-July, while sources suggest the transition to Kering could be solidified quickly. His appointment aims to rejuvenate Kering, which has faced challenges despite past successes, including substantial debt burdens.
De Meo, recognized for his turnaround expertise with Renault, seems poised to tackle Kering's needs. His potential departure marks the second high-profile exit in the European automotive industry recently, amid external pressures. Analysts view his background as an asset in revitalizing Kering's luxury appeal.
(With inputs from agencies.)
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