Renault CEO Luca de Meo Abruptly Resigns, Heads to Luxury Goods
Luca de Meo, the Chief Executive Officer of Renault, has unexpectedly resigned from his position. The announcement, made during the Canadian Grand Prix, signaled a significant shift in the automotive world. de Meo is reportedly transitioning to a leadership role outside of the car industry.
A Sudden Departure
After five years at Renault, Luca de Meo is ending his tenure. According to reports, the Italian executive will become the CEO of Kering, a holding company that owns luxury brands such as Gucci. Renault stated de Meo himself requested this departure.
“Luca de Meo announced his decision to resign from his position so that he could throw into new challenges outside the automotive sector.”
—Renault Statement
The change raises questions about Renault’s future, including the direction of Alpine in Formula 1. Questions also loom over the role of Flavio Briatore and whether the new leadership will be content with Alpine’s position in motorsports.
de Meo’s Legacy and Future Plans
Luca de Meo stated that he felt it was time to leave the company. He noted that the results over the last few years have been the best in Renault’s history. He also expressed confidence in the existing team and its strategic plan for future product development.
“Once in a person’s life, it is time to realize that you have already done his job.”
—Luca de Meo
de Meo aimed to revive the Alpine brand and renamed the Formula 1 team. In recent years, there has been speculation about the possible sale of the racing team; however, de Meo assured that Alpine would remain under Renault’s ownership during his leadership. The luxury goods market is experiencing substantial growth, with projections indicating a global value of over $440 billion by 2025 (Statista).
Uncertainty Ahead
The position of Flavio Briatore, who de Meo supported, is uncertain. Reports suggest Briatore secured a lucrative contract, including a share of Alpine’s sponsorship deals. Renault is searching for a new CEO based on a predefined successor plan.
The shift in leadership may bring significant changes for Alpine, particularly if the team struggles to improve its performance in Formula 1. Flavio Briatore has publicly set the goal of achieving victories and a championship title by 2027.