Renault Chief Executive Luca de Meo plans to step down in mid-July and pursue new challenges outside the automotive industry, with French newspaper Le Figaro reporting he is set to become the new boss of Gucci-owner Kering.

The appointment of de Meo, 58, marks a big change at Kering, owner of the Gucci and Saint Laurent brands, where François-Henri Pinault, a member of the family that controls the group, has been chair and chief executive for 20 years.

The departure from Renault of chief executive Luca de Meo changes nothing for the French carmaker's Alpine Formula One team, de facto principal Flavio Briatore told Reuters on Sunday.Renault announced