Renault Procurement Chief Provost is the front line for CEO work, media reports say

PARIS (Reuters) – Renault Procurement Chief François Provost has emerged as the front line to become the next CEO of a French automaker, Bloomberg reported Tuesday, citing people familiar with the issue.

Although no final decision has been made, Renault’s board will meet Wednesday to approve the results of the first half and discuss the appointment of the CEO, Bloomberg reported.

French newspapers Le Figaro and Les Echos also reported that Provost, 57, is a leading candidate for the job. But a source close to the issue told Reuters that Dennis Le Votes, head of the Renault unit’s Dassia, is also running.

Asked about the report, a Renault spokesperson said the selection process was still ongoing, but it was wise enough. She declined to comment further.

Renault is looking for a permanent replacement for former CEO Luca de Meo, who suddenly resigned last month to join the high-end group Kering.

A source close to the issue told Reuters that the board and its nomination committee would meet on Wednesday, adding that the announcement should be made after the market closes.

According to the same source, the board is expected to choose between Provost and Le votes.

If Renault chose Provost, he chose insiders from lesser known companies who joined the group more than 20 years ago and played a key role in the transformation of the company launched by De Meo in November 2022.

Earlier this month, Renault appointed financial director Duncan Mint as interim CEO, warning of weaker June sales volumes than expected.

The company, which will publish its six-month full text on July 31st, has also revised its forecast for its full-year operating profit margin and free cash flow.

(Reporting by Gilles Guillaume and Dominique Vidalon, Editing by Makini Brice and Joe Bavier)