Renault to Appoint Interim CEO Next Week Amid Search for Permanent Replacement

According to the Financial Times, Renault will appoint an interim CEO next week while it continues its search for a permanent replacement. The company announced on June 15 that its current CEO, Luca de Meo, will leave on July 15. Sources indicate that Renault has narrowed down its list of candidates for the CEO position to three individuals: Denis Le Vot, head of the Dacia brand; François Provost, head of procurement, partnerships, and public affairs; and former Stellantis executive Maxime Picat. The group is under pressure to appoint a new CEO before de Meo's departure on July 15. Recruitment firm Russell Reynolds Associates is assisting in the hiring process. Le Vot is respected within Renault for transforming the budget brand Dacia into one of the company’s most successful brands and has demonstrated his ability to handle complex situations, including leading the company’s supply chain and playing a role during the group's exit from Russia. Picat left Stellantis last month after not being selected for the company’s new CEO position, which ultimately went to Antonio Filosa, head of North America. De Meo's surprise announcement of his departure in mid-June shocked the Renault board, especially since he had recently outlined his future plans for the French automaker. Insiders suggest that De Meo's successor is expected to continue implementing his strategies, which include technology integration and expanding collaborations. However, Renault is not in a rush to appoint a new CEO, as De Meo has already laid out the company’s strategic direction, and the business is currently in a relatively calm summer phase. Nevertheless, Renault does not want the selection process for a new CEO to take too long, as Stellantis took over six months to appoint its new CEO. Additionally, the new CEO must meet the requirements of the French government, which is currently the largest shareholder of Renault. Renault confirmed that the search for a new CEO is ongoing but did not comment on the status of the candidates, and Russell Reynolds did not immediately respond to requests for comment.