The Renault share recorded a loss of over six percent on Monday morning at the start of the trade on the Paris stock exchange, while Kering’s course increased by more than six percent. The background is the announcement of the French automobile manufacturer that CEO Luca de Meo leaves the company.
According to media reports, the Italian is to take over the management of the French luxury group Kering. An official confirmation has so far been pending – Kering has so far neither expressed nor made a position on speculation.
At 9:20 a.m., Renault noted with a minus of 6.71 percent at 40.10 euros. Kering, on the other hand, increased 6.05 percent and rose to 183.08 euros. The overall market (CAC 40) was slightly up and won 0.44 percent.
Renault officially confirmed the De Meos departure on Sunday evening. After five years at the top, the manager left the company “to face new challenges outside the automotive industry,” said a message from the group.
As the daily newspaper Le Figaro reports, the 58-year-old will take over the operational management of Kering. According to the Magazin Challenges, Kering’s majority shareholder and incumbent CEO François-Henri Pinault plans to concentrate on the role of the chairman of the board of directors. At the request of the AFP news agency, Kering has not yet commented on the reports.
The luxury group has been suffering from several quarters from the weak performance of its most important brand Gucci. In the first quarter of 2025, sales continued and was 3.88 billion euros – a minus of 14 percent compared to the previous year. As early as 2024, the net profit had broken up by 62 percent, sales had dropped by twelve percent. The Kering share has lost around a quarter of its value since the beginning of the year.
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