On Sunday, June 15, Luca De Meo shook the automotive market by announcing that he would leave Renault Group to take over as CEO at Kering, the luxury conglomerate that owns brands like Gucci and Saint Laurent.
The market’s reaction was immediate: Renault’s shares fell by 8%, while Kering’s increased by 12%, reflecting the surprise and uncertainty generated by the departure of such a high-profile leader.
Since his arrival in 2020, De Meo led a transformation in the French group with a strong focus on electrification, which enabled the brand to consolidate its presence in the electric vehicle market.
“We want to make electric vehicles popular,” said De Meo in his first year at the helm of the company.
In this regard, he emphasised differentiating designs: “Every car must have an ‘E,’ the ‘E’ for emotion. If we make them all the same, we will trivialise them.”
At that time, the automaker was facing a difficult financial situation: in the first half of that year, it recorded a historic loss of 7.3 billion euros.
The impact of Renault’s electric transition in numbers
His departure comes at a favourable time for the brand, which delivered strong performance in the electric vehicle sector during the first quarter of 2025.
44.2% of sales in Europe were electrified models, an increase of 15.3 percentage points compared to the same period in 2024.
Within this segment, BEV sales rose by 87.9%, with the Renault 5 E-Tech leading its category.
This increase in market share is key for the automaker, which also ranked as number two in hybrid (HEV) vehicle sales in Europe during the first quarter of 2025.
The growth reflects the success of the electrification strategy, which has been driven by models like the Renault 5 electric, the Dacia Spring, and the Scenic E-Tech.
The company achieved a total electrified sales share of 61.2% in Europe, according to its investor report for Q1 2025.
This success is part of a broader recovery, as Renault recorded a 2.9% increase in global sales, despite a challenging environment.
What does De Meo’s departure mean for the electrification strategy?
The Italian took over as CEO of Renault Group in July 2020, in a difficult context marked by the economic crisis caused by the COVID-19 pandemic.
His appointment was seen as an opportunity to revitalise the brand and redirect its projects towards the future.
“Although the situation is unprecedented, it is not final,” he said at the time.
Under his leadership, the company launched the strategic plan “Renaulution,” with a central focus on electrification, profitability, and simplifying its vehicle range.
This plan marked a shift towards electric cars, emphasising improving the profitability of models while transforming the company’s offerings.
Among the most notable models was the Renault 5 electric, a return of the historic saloon, modernised to meet current market demands.
The R5 E-Tech led sales in France during the first quarter of 2025, dethroning Tesla.
The plan also included a restructuring of the Alpine brand, which began shifting towards an electric high-performance focus.
The launch of the A290, Alpine’s first electric hot hatch, underscores the push towards a greater presence in the luxury electric car market.
Will the absence of leadership impact progress?
Before joining Renault, De Meo held key positions at Fiat and Volkswagen, where he played a crucial role in revitalising brands like Alfa Romeo and Seat.
His departure raises questions about the immediate future of Renault’s strategy.
Among the candidates to succeed him, as mentioned by Bloomberg and Financial Times, are Denis Le Vot, current director of Dacia, and Maxime Picat, former executive at Stellantis.
The automaker’s efforts are now focused on ensuring that its medium-term strategic plan remains on track.
De Meo himself added in his recent statements: “There comes a time when you know your job is done. The results speak for themselves: they are the best in our history.”
“We have a strategic plan ready for the next generation of products. That’s why I have decided that it’s time to pass the baton.”
Although the brand insists that strategic projects will continue, it remains to be seen whether the void left by De Meo could slow the progress of the transition towards electric mobility.
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