Renault boss De Meo quits; report says he will head Gucci-owner Kering

Luca de Meo, the Renault CEO, is departing. He might head to Kering, the owner of Gucci. De Meo successfully turned around Renault. He overhauled the Nissan alliance and focused on electric vehicles. Kering faces challenges with its Gucci brand. Francois-Henri Pinault, the current CEO, may become chairman. Kering shares have significantly dropped in value.