According to the Financial Times, Renault will appoint an interim CEO next week. Meanwhile, the company is still looking for a full CEO. Renault Group announced on June 15 that its CEO Luca de Meo will leave his post on July 15.
Image source: Renault Group official website
According to people familiar with the matter, the Renault Group has narrowed the range of candidates for the company’s CEO to three: Denis Le Vot, head of the Dacia brand, François Provost, head of the purchasing, cooperation and public affairs department, and Maxime Picat, a former executive of Stellantis. People familiar with the matter said that if the group wants to appoint a full CEO by July 15, when de Meo will leave, the time is very tight. In addition, recruitment agency Russell Reynolds Associates is assisting with this recruitment.
Le Vot is respected within the Renault Group for transforming the economy brand Dacia into one of Renault’s most successful brands, and has the ability to navigate complex situations, including leading the company’s supply chain work and taking a leadership role in the group’s exit from Russia.
Picat left Stellantis last month after he was not favored in the selection process for the company’s new CEO, which Antonio Filosa, head of North America, was eventually appointed CEO.
De Meo’s board of directors shocked Renault by suddenly announcing his departure from Renault in mid-June, and just a few days ago he had elaborated on his future plans for the French automaker. According to people familiar with the situation of the Renault Group, de Meo’s successor is expected to continue to implement the plans developed by de Meo, including integrating technology and expanding more cooperation projects.
People familiar with the matter also said that Renault Group is not in a hurry to appoint a new CEO at this time, because de Meo has previously outlined the company’s strategy, and the business is currently in a relatively calm summer phase. However, Renault Group also does not want the job of screening a new CEO to take too long. Previously, it took Stellantis more than six months to select a new CEO.
In addition, the new CEO must also meet the requirements of the French government, which is currently the largest shareholder of the Renault Group. In response to the news, Renault said that its search for a new CEO was still ongoing and did not comment on the candidate’s situation, and Russell Reynolds did not immediately respond to a request for comment.