Renault Announces Unanticipated Change in Leadership
Renault has announced that François Provost will take over as the permanent CEO of the French automaker, effective immediately and for a four-year term. The appointment comes at a critical juncture for the company, as it navigates financial difficulties, strategic transitions, and the aftermath of the departure of former CEO Luca de Meo.
Provost's extensive background at Renault spans over 20 years, during which he has held various executive positions in France and across Europe. Most recently, he served as the Chief Procurement, Partnerships and Public Affairs Officer, playing a central role in implementing Renault's "Renaulution" plan. This plan includes the creation of subsidiaries focused on electric vehicles (Ampere) and hybrid engines (Horse).
One of Provost's key achievements has been his ability to establish major partnerships with global players such as Nissan, Geely, and Aramco. He was also instrumental in unwinding Renault’s capital ties with Nissan, reflecting his experience in high-stakes corporate restructuring and shareholder relations.
Before his most recent role, Provost served as Chairman and CEO of Renault Samsung Motors in Korea for five years and CEO of Renault-Nissan Portugal from 2005 to 2008. He also held the position of deputy CEO of Renault Russia in charge of operations.
Renault's Chairman, Jean-Dominique Senard, believes that Provost's expertise and knowledge of the company will help complete the implementation of the strategic plan and ensure its successful execution. He is confident that Provost's attributes, particularly his strategic agility, will maintain Renault's performance trajectory.
The company's statement highlights Provost's attributes as essential for the continuity of Renault's development, particularly internationally. The appointment of Provost comes a day before Renault releases its half-year financial results.
Duncan Minto, who served as Renault's interim chief financial officer in the middle of July, will continue to bridge leadership during this transition period. The appointment of François Provost marks the end of a selection process that included several other candidates, such as Denis Le Vot (Dacia's CEO), Fabrice Cambolive (Renault brand CEO), and Maxime Picat (Stellantis' Director of Purchasing).
Provost's experience in establishing major partnerships with global players and his role in strategic partnerships and restructuring make him the ideal choice to lead Renault permanently through this critical phase. His deep and broad experience within Renault, his alignment with the previous CEO's vision, and his technical and managerial aptitude emphasize his fitness for the role.
- As Renault prepares to release its half-year financial results, François Provost's extensive background in finance and business, including his role in strategic partnerships and restructuring, makes him an ideal choice to lead the company permanently.
- With his experience in establishing major business partnerships, particularly with global players, and his alignment with the previous CEO's vision, Provost's deep and broad knowledge of both the finance and business aspects of Renault solidify his fitness for the permanent CEO role during this critical phase.
