A report claiming de Meo would depart Renault first circulated in French publication Le Figaro, and later confirmed by Renault.
de Meo, who has served as Renault’s CEO since July 2020, will reportedly become the CEO of Kering, which owns French fashion labels Yves Saint Laurent, Gucci and Balenciaga.
“There comes a time in one’s life when one knows the job is done,” de Meo said in a statement confirming his resignation.
“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. We have a strong team and an agile organisation. We also have a strategic plan ready for the next generation of products.
That is why I have decided it is time for me to hand over the baton. I am leaving a transformed company, poised for the future, to apply my experience to other sectors and embark on new adventures.
“Leading Renault Group has been a privilege. It has been a human and industrial adventure that only happens once in a lifetime. For this, I will always be grateful to the women and men of this company – the ‘Renaulutionnaires’ – for their passion, their commitment and their conviction. They are the true driving engines.
“Moreover, I would like to thank Jean-Dominique Senard [Renault’s chairman of the board of directors] for choosing me several years ago, for his support and trust, as well as the Board of Directors, for believing in our projects. And the best is yet to come…”
After starting his automotive career at Renault in the 1990s, de Meo moved to the Fiat Group where he handled brands like Lancia, Fiat, Alfa Romeo and Abarth, leading the revival of the new Fiat 500 which transformed the brand’s fortunes.
A move to Volkswagen in the late 2000s resulted in roles at Audi, Ducati and Lamborghini before becoming the president of Seat, a role which saw him spin-off Cupra into its own brand.
Since arriving at Renault, the French brand’s fortunes have been turned around, led by its range of new electric vehicles such as the reborn Renault 5, the new Megane and Scenic. Platform sharing with Alliance partners Nissan and Mitsubishi has continued to be core to Renault’s success.
His time as Renault CEO also saw the Formula 1 team be rebranded to Alpine, leading to the team scoring one win (so far) at the 2021 Hungarian Grand Prix. He has also overseen the growth of budget brand Dacia.
Renault is yet to announce de Meo’s successor.
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