Renault boss Luca de Meo is leaving the company after just over a year in the position, the French automaker announced on Sunday. De Meo’s departure comes as a surprise to many, as he had only taken on the role of CEO in July 2020.
In a statement, Renault said that de Meo was leaving “to take on new challenges outside the automobile sector.” Although the exact details of his next move have not been disclosed, reports suggest that he will assume the role of CEO at Italian sports car maker, Ferrari.
De Meo’s departure from Renault marks the end of a short but impactful tenure. He joined the company during a challenging time, as the COVID-19 pandemic had severely impacted the global automotive industry. However, he quickly made his mark by implementing a strategic plan to turn around the company’s fortunes.
Under de Meo’s leadership, Renault saw a 14% increase in sales in the first quarter of 2021 compared to the same period last year. He also initiated a cost-cutting program that helped the company save billions of euros. Additionally, de Meo focused on improving the brand’s image and launched new models such as the all-electric Renault Megane and the highly anticipated Renault 5.
De Meo’s departure comes as a blow to Renault, but the company remains optimistic about its future. In a statement, the company’s chairman, Jean-Dominique Senard, said, “I regret Luca’s sudden departure, but I respect his personal choices. He has transformed Groupe Renault with a new vision and a strong strategy.”
De Meo’s decision to leave Renault may come as a surprise to many, but it is not uncommon for CEOs to make such moves in the automotive industry. In fact, many top executives have left their positions at major automakers to take on new challenges in different sectors.
De Meo’s possible move to Ferrari is seen as a natural progression for someone with his experience and expertise. Before joining Renault, he had held top positions at major car companies such as Volkswagen and Fiat. His appointment as Ferrari’s CEO would bring a fresh perspective to the company and could potentially lead to significant changes.
De Meo’s departure is a loss for Renault, but it also presents an opportunity for the company to find a new leader who can continue his legacy and drive the brand forward. In the meantime, the current management team will take over his responsibilities.
Renault’s future may be uncertain without de Meo at the helm, but the company is confident in the direction he has set for them. The company’s focus on electric and hybrid vehicles, as well as its partnership with Nissan and Mitsubishi, puts it in a strong position to navigate the challenges of the rapidly changing automotive industry.
Despite de Meo’s unexpected departure, Renault’s future remains bright. The company has a strong portfolio of cars, a clear strategy, and a dedicated team. As the automotive industry continues to evolve, Renault will be ready to adapt and thrive under new leadership. And while de Meo may be leaving, his legacy at Renault will live on, and his impact will be felt for years to come.
