Renault CEO Luca de Meo is resigning to take a new role outside the auto industry, reportedly becoming the CEO of luxury conglomerate Kering, which owns Gucci. His departure marks a significant leadership change for both companies amid Kering's struggles to revitalize Gucci and manage debt, while Renault has seen a successful turnaround under de Meo's leadership. De Meo will leave Renault in mid-July, and his move signals a notable shift in the European corporate landscape.
Luca de Meo, CEO of Renault and key figure behind the Alpine F1 project, is stepping down, raising questions about the future of the Alpine F1 team, including potential sale considerations and the role of Flavio Briatore, amid ongoing instability and strategic shifts within the team and Renault.
Renault Group CEO Luca de Meo announced his resignation after five years, marking another upheaval for Alpine and Renault's restructuring efforts, with de Meo set to join luxury firm Kering amid Renault's financial turnaround and ongoing changes in its F1 team.
Renault's decision to appoint Flavio Briatore as an executive advisor for its F1 team has raised eyebrows, given his controversial past and the team's unstable history. This move, driven by CEO Luca de Meo, is seen as a desperate attempt to salvage the team's credibility, but it may further erode it instead. The appointment has sparked speculation about the future of Renault's F1 program, including potential sale rumors, despite the company's denials.
