Luca de Meo, the Chief Executive Officer of Renault, has announced his departure from the automobile manufacturer effective July 15. His decision comes as a surprise to employees and follows the unexpected resignation of the company's Chief Financial Officer, Thierry Piéton, who left for Medtronic in January of this year.

In an internal communication, de Meo described his resignation as a personal decision, emphasizing that he is not fleeing from the company.

De Meo's contract was renewed just last year for an additional four years, suggesting a commitment to lead Renault amid ongoing transformations in the automotive sector.

His name had been mentioned in discussions regarding potential successors to Carlos Tavares at Stellantis, the parent company of brands such as Fiat, Chrysler, and Peugeot.

However, Antonio Filosa, an internal candidate, has been appointed to lead Stellantis, illustrating a trend of promoting executives from within the organization.

Simultaneously, Luca de Meo has accepted a position as the CEO of luxury group Kering, known for its fashion and lifestyle brands.

This dual timing of leadership changes at two prominent French companies presents a notable crossroads for both entities, as they navigate their respective futures in an evolving market landscape.