PARIS, Renault has appointed its Chief Procurement Officer, Francois Provost, as Chief Executive Officer, effective July 31, selecting a relatively low-profile internal candidate to navigate the company through intensifying market competition and sluggish demand—factors that led to a profit warning earlier this month.
RENAULT – Francois Provost as Chief Executive Officer
The leadership change follows the unexpected departure of former CEO Luca de Meo, who resigned last month to take up a position at luxury conglomerate Kering.
In a statement, Renault said:
“With extensive international experience in both operational and strategic roles, a deep understanding of the industry’s challenges, and a clear strategic vision, Francois Provost possesses the leadership qualities needed to advance and accelerate Renault Group’s development.”
