A month-and-a-half after the shock resignation of Luca de Meo, Renault has appointed François Provost as its new CEO.
Mr Provost (beneath) has been with Renault for 23 years, and has been chief procurement, partnerships and public affairs officer since 2023.
In 1994 he graduated with levels from École polytechnique, and École des mines, France’s main engineering college.
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His first calling was public service, the place he rose to turn into deputy secretary common of interministerial committee for industrial restructuring, and later a senior advisor within the ministry of defence.
Mr Provost jumped over to Renault in 2002, and served the corporate around the globe, together with stints because the chief of Renault Portugal and Renault Russia. In 2011 he turned CEO of Renault Samsung earlier than being put in control of the automaker’s Asia-Pacific operations in 2016.
As head of worldwide growth and partnerships from 2020, he helped engineer the corporate’s wide-ranging partnership with Geely, which sees Renault South Korea manufacture restyled Geely Group autos, in addition to collectively creating and producing inner combustion engines.
He additionally negotiated Renault’s exit from Russia within the wake of its invasion of Ukraine in 2022, which noticed the French automaker promote its majority stake in market-leading Lada again to Russian pursuits for a single rouble, or about two Aussie cents.
It’s probably Mr Provost’s expertise with Renault’s varied worldwide companions will probably be put the check within the coming years.
Together with information of his elevation to the highest job, Renault introduced a lack of €11.2 billion ($19.9 billion). Round €9.3 billion ($16.5 billion) of the loss is as a result of Renault has modified the way in which it accounts for its stake in Nissan, which is now tied to the latter’s share value.
An extra €2.3 billion ($4.1 billion) in losses got here from Nissan and its related firms.
In line with Automotive Information, throughout his first investor name as CEO, Mr Provost mentioned the automaker will want “iron self-discipline” when deciding on investments.
He mentioned the corporate remains to be aiming to develop exterior of Europe, with key markets being Latin America and India. It will likely be attention-grabbing to see whether or not Mr Provost retains investing Alpine, which is burning by money because it seeks to ascertain itself as an all-electric competitor to Porsche.
Mr Provost has massive sneakers to fill. His predecessor, Luca de Meo, is extensively credited with turning the automaker round. Throughout his watch, the corporate revitalised its lineup of inner combustion engine autos, and launched a clutch of eye-catching and well-received electrical vehicles, together with the 5 E-Tech.
Mr de Meo resigned abruptly in the course of June — though he didn’t go away the corporate till mid-July — with a view to take the reins at Kering, a luxurious model conglomerate that owns Gucci, Yves Saint Laurent, Balenciaga and others.
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