Francois Provost Emerges as Likely Renault CEO

Renault's procurement chief, Francois Provost, has emerged as the likely candidate to succeed as the French automaker's CEO. The board is meeting to decide between Provost and Dennis Le Vot, as Renault searches for a replacement for Luca de Meo who resigned last month.

Renault's procurement chief, Francois Provost, has surfaced as the frontrunner to take over as the French carmaker's chief executive, according to Bloomberg sources.

While a decision is yet to be finalized, Renault's board is set to meet shortly to deliberate on the CEO role, as well as approve the company's interim financial results. Notably, French dailies Le Figaro and Les Echos have also identified Provost, 57, as the leading candidate, although Renault unit Dacia's head, Denis Le Vot, remains in contention.

Following the sudden departure of former CEO Luca de Meo to luxury brand Kering, Renault is seeking a new leader. Reports indicate that Renault's board and its nomination committee are meeting midweek, with an official announcement expected post-market closure. Provost, a long-time insider, joined Renault over two decades ago, contributing significantly to the company's recent transformation.

(With inputs from agencies.)