The top manager who initiated the grand changes at the French brand has resigned. Renault confirmed the resignation of Luca de Meo, the leader who led the concern for almost five years. The company's press release is brief: the board of directors thanked the top manager for the transformation of Renault Group and decided that the Italian will continue to fulfill his duties until July 15, 2025. The newspaper Le Figaro reported that Luca de Meo will move beyond the automotive sphere to the world of fashion and will head the Kering group.
As head of Renault Group, Luca de Meo has managed to leave his mark with significant changes. The top manager is a co-author of the Renaulution strategy. Renault's Renaulution program, presented by CEO Luca de Meo, represents a complete transformation of the company, which seeks to shift its focus from sales volume to value creation and profitability.
The plan is structured in three phases - – "Resurrection" aimed at restoring margins and generating cash flow; "Renovation" aimed at renewing and enriching the product range with a focus on electrification and higher segments (such as the C-segment); and "Revolution", which envisages a shift to a business model based on technology, energy and mobility services.
The main highlights include reducing fixed costs, optimizing investments in research and development, and introducing 24 new models by 2025. (including at least 10 fully electric), developing new business units such as Mobilize for mobility services, and focusing on the circular economy and sustainability with the aim of achieving carbon neutrality in Europe by 2040 and globally by 2050. Ultimately, "Renaulution" aims to transform Renault from a car company working on technology to a technology company working on cars.
Now, in his new position, Luca de Meo is unlikely to cross paths with the auto industry: running Kering means patronage over brands such as Gucci, Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Balenciaga, etc. It has not yet been announced who will replace the Italian at the helm of Renault.
The change of power at Renault could cause another “revolution“, because Luca de Meo has radically changed the strategy of the French automaker, but the problems for the company are still there and the agenda requires cost reduction, distribution of roles in the alliance and expansion of cooperation with the Chinese Geely.