Automobile: François Provost appointed CEO of Renault

François Provost was appointed by the board of directors of car manufacturer Renault on Wednesday, July 30, to replace Luca de Meo as CEO, the group announced. The 57-year-old French engineer has worked for Renault since 2002 and, since 2023, has served as the group's director of purchasing, partnerships, and public affairs.

"With his international career in both operational and strategic roles, his in-depth knowledge of the sector's challenges and his strategic vision, François Provost has the qualities required to continue and accelerate the transformation of Renault Group," the manufacturer said in a press release.

He will have to "ensure the continuity of its development, particularly internationally and in its partnerships," the company added. François Provost was preferred to two figures in the group: the boss of Dacia, Denis Le Vot, and that of the Renault brand, Fabrice Cambolive.

Discreet behind his glasses, François Provost piloted the "Renaulution" transformation plan for former CEO Luca de Meo. This plan pulled Renault out of the rut, steering the group toward more upmarket and profitable vehicles, moving from the Mégane, which was sold everywhere, to the Austral SUV and the electric R5, which cost more than €35,000.

The group appointed its financial director Duncan Minto in mid-July to temporarily replace Luca de Meo, who surprisingly left to head the French luxury giant Kering after a long career in the automotive industry.

Following a very rapid appointment process, François Provost takes the wheel of a rehabilitated group, which has regained margins (6% of turnover in the first half), but suffers from several weaknesses. The company also revised downwards its financial forecasts for the year 2025 in mid-July, pointing to the "deterioration of the dynamics of the automobile market" .

The group also announced a strengthening of its cost-cutting plan, which will be detailed Thursday morning with the publication of its first-half results. "I will put all my energy and passion into contributing (...) to the development of our group, one of the flagships of French industry for 127 years," François Provost said in the press release.

"Renault Group benefits from solid fundamentals with committed teams, a very attractive product range, strong brands and an innovative organizational model. They will be invaluable to us in accelerating our transformation in an increasingly demanding context for our industry," continued François Provost.