Renault CEO De Meo Quits Auto Industry For Luxury Fashion Role

Luca de Meo is stepping down as CEO of Renault after five years in charge. He joined in July 2020, when the company was struggling. That year, Renault lost a record €7.3 billion in just six months.

Since then, de Meo has led a major turnaround. His plan, called “Renaulution,” focused on building higher-profit vehicles and cutting development time. He pushed for more SUVs and fewer slow-selling models. Under his watch, the Renault 5 came back as an electric car, and the Renault 4 crossover is on the way. A new budget-friendly electric Twingo is coming next year.

De Meo also boosted Dacia, Renault’s budget brand. He introduced the Bigster SUV and set plans for a low-cost EV built in Europe. That car may replace the China-made Spring and act as a cheaper Twingo alternative.

He didn’t forget about Alpine either. He set the brand on an all-electric path. The new A290 hot hatch and A390 crossover are already revealed. A modern A110 and a 2+2 coupe called the A310 are coming soon. Bigger Alpine SUVs are also planned for North America.

Now, de Meo is leaving the auto world. French newspaper Le Figaro says he’ll become the new CEO of Kering, the luxury group behind brands like Gucci and Yves Saint Laurent. 

In his goodbye message, de Meo said: “There comes a time when you know the job is done. At Renault Group, we have faced immense challenges in less than five years! We have achieved what many thought impossible. Today, the results speak for themselves: they are the best in our history.”

His last day at Renault will be July 15. The company is now looking for a new CEO.