Renault Appoints Nicolas Paris as New CEO of Renault Korea

According to reports from foreign media, French automotive manufacturer Renault Group has announced the appointment of Nicolas Paris, the vice president of electric drive systems, batteries, connectivity, and software at its French headquarters, as the new CEO of Renault Korea. Nicolas Paris will officially take over the position on September 1. The current CEO of Renault Korea, Stephane Deblaise, will be reassigned to head Renault India on the same day. With 20 years of extensive experience in the global automotive industry, Nicolas Paris joined Renault Group in 2015 after serving as the procurement director for Bosch in the Asia-Pacific region. During his tenure at Renault, he has held various procurement leadership roles in China and India and has served as the global director for the Renault-Nissan-Mitsubishi Alliance's APO platform and chassis. Since 2023, as the vice president of electric drive systems, batteries, driving assistance connectivity, and software procurement, Nicolas Paris has played a vital role in Renault Group's technological innovation and electrification transformation. Stephane Deblaise has been the CEO of Renault Korea since March 2022 and successfully promoted Renault Group's 'Aurora Project.' As part of Renault Group's internationalization strategy, this project aims to utilize its Busan plant in South Korea to produce new models, including the newly launched Grand Koleos SUV. Since its market debut in September 2024, the SUV has sold over 45,000 units in South Korea. Additionally, in mid-July, Renault Group announced the appointment of its current CFO Duncan Minto as the interim CEO, succeeding Luca de Meo, who is set to become the CEO of the Renault Group. At that time, Renault Group also indicated that the search for a new CEO was well underway, with potential candidates including Dacia brand head Denis Le Vot, Renault procurement director Francois Provost, and former Stellantis executive Maxime Picat. It is noteworthy that shortly after announcing Duncan Minto's appointment as interim CEO, Renault Group revised its operating profit margin forecast for this year from at least 7% to approximately 6.5%. Due to intensified market competition and declining vehicle sales, Renault Group also lowered its free cash flow expectation from the original minimum of 2 billion euros to between 1 billion and 1.5 billion euros.