The shock announcement of Renault CEO Luca de Meo's departure will have a profound effect internally and externally after he transformed a company driven to the brink of collapse by the Covid pandemic.
“Luca de Meo's departure is unequivocally a blow to Renault,” Stephen Reitman, automotive analyst at the bank Bernstein, said of De Meo’s decision to leave automotive together for the luxury world, specifically as head of Gucci-owner Kering. “We are saddened by the loss,” he said.
If Reitman’s response makes it sound more like a death than a resignation, that’s because of the enormous impact De Meo has had on Renault since joining July 2020.
