Francois Provost: Navigating Renault's New Era

Renault has appointed Francois Provost as its CEO to guide the company amidst growing competition and waning demand. Provost, known for his strategic and operational expertise, steps in following the resignation of Luca de Meo. His international experience is pivotal for Renault's future plans.

On Wednesday, Renault appointed Francois Provost, its chief procurement officer, as the new CEO in a surprising move focused on leveraging internal experience. His appointment, effective July 31, follows a sudden vacancy left by Luca de Meo, who departed for Kering.

Provost assumes leadership at a challenging period for Renault, which has recently issued a profit warning due to underperformance in June and reliance on the slow-growing European market amidst competitive pressures. His deep understanding of both strategic and operational landscapes is seen as a crucial asset.

Renault praised Provost's extensive international experience and strategic acumen as key factors in his selection. Despite being a lesser-known candidate, his role in significant partnership developments and strategic transformations has been instrumental, making his appointment a calculated step toward fortifying Renault's future strategy.

(With inputs from agencies.)