Reported about 18 hours ago
Kering, the parent company of Gucci, has named Renault's CEO Luca de Meo as its new leader to revitalize the struggling luxury brand and address its significant debt. De Meo is set to begin on September 15, becoming the first outsider to hold this position. His appointment follows Kering's subpar performance in recent years, and while his move has resulted in a substantial rise in Kering's shares, Renault's stock has declined sharply due to his departure.
Source: YAHOO