Renault CEO Mayo suddenly announced his resignation, and it is reported that he will serve as CEO of Gucci’s parent company Kering Group

Passionategeekz On June 16, Renault Group CEO Luca de Mayo announced thatWill step down as CEO of Renault Group from July 15to “seek new challenges outside the automotive industry”.

Le Figaro reported thatMayo will become the new CEO of Gucci parent company Kering Group。

Mayo reversed the beleaguered French automaker in a five-year term, reformed its two-year strategic alliance with Nissan and increased investment in hybrids while turning to electric vehicles.

Kering declined to comment on Le Figaro’s report.

“Luca de Mayo has expressed his decision to leave in order to meet new challenges outside the automotive industry,” Renault said in a statement.

According to previous reports from Passionategeekz, Renault Group and Nissan announced a new strategic cooperation project in April this year. By acquiring Nissan’s current 51% stake,Renault Group will achieve 100% holding of RNAIPL。

Nissan chose Renault Group to develop and produce Twingo derivative models for it, and the design will be completed by Nissan.

In addition, the “New Alliance Agreement” will be revised, and the two parties will reduce the lock-in commitment ratio from the current 15% to 10% to improve the flexibility of both parties in cross-holding.

According to the financial report, Renault Group’s revenue in the first quarter of 2025 reached 11.675 billion euros (Passionategeekz Note: the current exchange rate is approximately RMB 96.772 billion); the automobile business revenue reached 10.128 billion euros (the current exchange rate is approximately RMB 83.949 billion); the product portfolio benefits are stable, contributing 3.7 percentage points. Renault Group achieved sales of 564,980 vehicles in the first quarter of this year, a year-on-year increase of 2.9%.

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