Can Kering’s new CEO come from the automotive division?

Can Kering hire executives from the automotive industry to lead the transition? The French luxury group declined to comment on Sunday in a report by France’s Daily Le Figaro that it was poised to hire Renault’s chief executive, Luca de Meo.

The report appeared as Renault Group stated that De Meo has “decided to step down and pursue new challenges outside the automotive sector.”

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His departure will occur on July 15th, Renault said.

Italian executives have spent five years at the helm of management and boasted 30 years in the industry with brands like Fiat, Alfa Romeo, Toyota, Volkswagen and Seat.

De Meo replaced François-Henri Pinault, who became CEO of a family-managed group, and was called the PPR and $30 billion retail and fashion giant.

Pineau was taken over by Serge Weinberg, who piloted the conglomerate through dramatic transformation when he absorbed the timber, finance and electronics business, the Gucci Group, the third-largest luxury player in the world.

now dry Although it focuses solely on luxury fashion houses, beauty and eyewear, it is struggling to stop the sudden slowdown of the Cashko Gucci brand, who welcomes creative director Demna next month.

Kering has previously recruited outsiders in the industry to run the fashion business. Gucci Group was president and CEO from 2004 to 2011, recruiting Robert Polet from Unilever’s Ice Cream and Frozen Foods Division to famously recruit Robert Polet.

Pineau told shareholders at the company’s annual meeting last April that he was unhappy with Kering’s results and the performance of the stock price. “I am completely committed to ensuring that stock prices will recover by regaining financial performance, not in very short term, to generate volatile and solid stock prices over the coming months and years,” he said.

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