Luca de Meo Leaves Renault To Take The Wheel At Kering

In a dramatic and unexpected shift, Luca de Meo, CEO of Renault, is stepping down from the carmaker’s top job to take the helm at French luxury powerhouse Kering. The 58-year-old executive, whose departure from Renault is set for July 15, is widely reported to be joining Kering as its new CEO—a move that marks one of the most intriguing cross-industry leadership transitions in recent memory.

Kering has not yet officially confirmed the appointment, but the news is expected to be announced following the close of the Paris stock exchange today, June 16. De Meo’s move signals both a surprising exit from the auto world and a bold new chapter in the story of one of fashion’s most storied conglomerates.

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Luca de Meo has built a reputation as a turnaround expert, a visionary strategist, and a man deeply passionate about design and innovation. Born in Milan and fluent in four languages, de Meo has worked across iconic automobile brands like Toyota, Fiat, Volkswagen, and Audi. His leadership at SEAT—where he repositioned the Spanish brand into one of Europe’s fastest-growing carmakers—earned him acclaim. But it was at Renault where his talents truly shone.

Taking charge of Renault in 2020, just as the company was reeling from the Carlos Ghosn scandal and deep financial losses, de Meo introduced a bold restructuring plan dubbed “Renaulution”. The plan focused on profitability over volume, streamlining operations, investing in electric mobility, and forging tech-forward collaborations. In the face of turbulent times, including a pandemic and an increasingly competitive market, de Meo led Renault back to financial stability—cutting over 15,000 jobs, revamping the product lineup, and launching high-profile models like the electric Renault 5.

It is this track record of transformation that reportedly caught the eye of François-Henri Pinault, the longtime CEO of Kering. The luxury group—home to brands such as Gucci, Saint Laurent, Bottega Veneta, and Balenciaga—has been grappling with declining revenues and flagging consumer interest, especially in China. In 2024, Gucci’s revenue fell to €7.65 billion, down from nearly €10 billion the year prior. The broader Kering portfolio also took a hit, with group revenue falling by over €3 billion in just two years and profits shrinking by two-thirds.

In a move signaling strategic recalibration, Pinault has chosen to split his role—retaining oversight of the group while bringing in de Meo as general manager. De Meo will now work alongside Francesca Bellettini, Deputy CEO for Brand Development, and Jean-Marc Duplaix, Deputy CEO for Finance, to steer the company into a more stable and inventive future. The recent appointment of Demna Gvasalia as Gucci’s creative director further reflects Kering’s ambition to reinvigorate its brands through fresh, forward-thinking leadership.

For many, the idea of a car industry veteran leading a fashion house may seem unconventional. But insiders suggest de Meo’s passion for luxury craftsmanship, his reputation as a design connoisseur, and even his love for high-end watches could make him a surprisingly natural fit. More importantly, his proven ability to lead massive corporate restructurings and revive brand identity may be exactly what Kering needs at this crucial juncture.

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De Meo himself has alluded to the motivations behind his pivot: “There comes a time in your life when you know the job is done.” And with the European automotive industry entering choppy waters amid electric competition and global trade tensions, perhaps this is also a timely escape. That said, luxury fashion has its own set of storms—from weakening demand in key markets to the unpredictability of global tariffs.

Yet if de Meo’s past is any indication, he thrives when the stakes are high and the brand is in flux. Now, he will swap dashboards for runways and electric mobility for creative energy in what may become one of the most watched leadership experiments in the business of luxury.

Time will tell whether this gearshift propels Kering into a new era—but for now, all eyes are on Luca de Meo as he takes his next bold step.