Renault executive Luca de Meo has been confirmed as the new chief executive officer of Kering, and he is expected to start on Sept. 15 following board approval.

French luxury group Kering SA (PPRUY) has named Luca de Meo its next chief executive officer, tapping the top leader of Renault SA (RNLSY) to leverage his turnaround experience in the automotive ...

The company also reaffirmed its outlook for fiscal 2025. In Paris, Kering SA shares were trading at 191.56 euros, up 11 percent, while Renault shares were at 39.59 euros, down 8.02 percent.

Kering shares gained around 5% on trading platform Tradegate by 0606 GMT and Renault shares fell around 3%. De Meo will leave Renault in mid-July, Renault said.

Kering will propose a 20 million euros ($22.89 million) signing-on bonus for its new CEO Luca de Meo, adding to an overall ...

Kering declined to comment on Le Figaro's report. "Luca de Meo has expressed his decision to step down in order to take on new challenges outside the automotive sector," Renault said in a statement.

Kering shares were trading up 10.4% by 1:15 p.m. London time as investors and analysts cheered the reports. Renault shares, meanwhile, shed 7%.

Kering shares were trading up 10.3% by 9.45 a.m. London time as investors and analysts cheered the reports. Renault shares, meanwhile, shed 7%. "Brand management and marketing are [de Meo's] forte ...

Kering shares were trading up 7.2% by 8:34 a.m. London time as investors and analysts cheered the reports. Renault shares, meanwhile, shed 7%. "Brand management and marketing are [de Meo's] forte ...