US EditionRenault names Francois Provost as new CEO
FRANCE, JUL 30 – Francois Provost takes over as CEO to address weak demand and rising competition, with Renault cutting its full-year profit margin forecast to around 6.5%, company said.
- Renault announced that Francois Provost, who oversees procurement, will assume the role of CEO starting July 31, following the resignation of Luca de Meo in June.
- Provost's appointment follows Renault's downgraded profit forecast due to weaker retail demand and intensified competition in Europe.
- Provost, a 57-year-old with 23 years at Renault and close advisor to De Meo, faces challenges including zero sales volume growth in Q2 and industry shifts.
- Renault's first-half sales rose 2.5 percent to 27.6 billion euros, while the operating profit forecast was cut to around 6.5 percent from seven percent due to retail market decline.
- Provost aims to accelerate Renault's transformation relying on strong fundamentals, committed teams, and innovation amid union concerns over strategic alliances and market pressures.
81 Articles
81 Articles
PORTRAIT. For his first public appearance, the general manager of the car manufacturer showed a style that contrasted with that of his predecessor, Luca de Meo.
Appointed Managing Director on Wednesday evening, Luca de Meo's successor took the floor for the first time this Thursday morning.
Renault's New Direction: Challenges and Strategies Under CEO Francois Provost
Renault's New Direction: Challenges and Strategies Under CEO Francois Provost As Francois Provost steps into his role as the new CEO of Renault, he inherits a host of challenges poised to test his leadership. The French automaker recently downgraded its profit forecast amidst slumping sales, highlighting the obstacles ahead.Provost will face the evolving landscape of global competition. Although not directly affected by U.S. tariffs, Renault exp…
The former director of procurement, partnerships and public relations is thus leading the French car brand with effects on 31 July and on a four-year term.
The board of directors of French automotive giant Renault, which also includes Novo Mesto-based Revoz, has appointed Francois Provost as the group's new CEO.
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