Francois Provost Poised for Renault CEO Role Amid Board Deliberations

Renault's procurement chief Francois Provost has emerged as the primary contender for the CEO position at the French automaker, according to a Bloomberg report citing insider sources.

While a conclusive decision is yet to be made, Renault's board is slated to convene on Wednesday to review first-half results and deliberate on the CEO appointment. French newspapers Le Figaro and Les Echos have also indicated Provost as the top candidate.

Renault spokeswoman confirmed the selection process is still ongoing but nearing completion, with no further comments provided. A source close to the situation stated that the board and nomination committee will meet and potentially announce the new CEO after the market closes.

The leadership search follows Luca de Meo's sudden resignation in June to join Kering. As interim CEO, finance chief Duncan Minto currently steers Renault, which has adjusted its full-year operating and cash flow forecasts, anticipating lower-than-expected sales volumes for June.

(With inputs from agencies.)