Kering shares jump 7% on reports of Renault’s De Meo as next CEO

June 16, 2025 05:16 PM AEST | By EODHD

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Kering shares jump 7% on reports of Renault’s De Meo as next CEO — Image source: Kalkine Media

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Investing.com -- Kering (EPA:PRTP) shares jumped over 7% on Monday after reports that Luca de Meo, former CEO of Renault (EPA:RENA), may be appointed as the French luxury group’s next chief executive. Multiple outlets, including Le Figaro, the Financial Times and Bloomberg, reported over the weekend that de Meo is set to take over the CEO role, while Kering Chairman François-Henri Pinault is expected to retain his chairmanship, separating the two positions. Renault confirmed that de Meo had stepped down to pursue opportunities outside the group. Analysts at RBC Capital Markets noted that the market responded positively to the reports, viewing the potential appointment as a sign of Kering’s intent to reinforce executive leadership and address ongoing governance concerns. De Meo brings decades of experience in corporate turnarounds, having led transformations at Renault and SEAT, with earlier roles at Toyota (NYSE:TM), Fiat (BIT:STLAM) and Volkswagen (ETR:VOWG_p).

While his lack of luxury-sector experience may raise questions, analysts at RBC noted his proven capabilities and track record in managing large-scale restructurings could benefit Kering, which has faced pressure to stabilize operations across its brand portfolio. The company has been focused on reviving Gucci, its largest brand, where leadership and creative changes have been underway. A new CEO and creative director were recently appointed at Gucci, with similar restructurings at Balenciaga, Saint Laurent and Bottega Veneta. RBC described the pace and breadth of these changes as unusual within the sector and flagged continuity risks. However, the success of Gucci’s new creative direction under Demna is seen as critical.

RBC described current sentiment around Gucci as "outright depressed," with potential for a turnaround depending on the upcoming runway collections later in 2025 and early 2026.

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