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Renault boss De Meo quits, with reports of switch to Gucci-owner Kering

LONDON (Reuters) -News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and subsequent reports of him being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors. "We see Denis Le Vot (head of Dacia) and other internal candidates as potential successors, as well as Maxime Picat, a French executive from Stellantis."

Reuters 5 minutes ago

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Major events in the history of French fashion group Kering

March 1999 - The firm, now called PPR, begins its transformation into a luxury group by acquiring a 42% stake in the fashion group Gucci for about $3 billion. July 2001 - The group buys the Balenciaga fashion house, which soon becomes a celebrities-favoured strategic brand within the PPR-owned Gucci Group. March 2005 - Francois-Henri Pinault, the founder's son, replaces Serge Weinberg as chairman and CEO of the group and begins to sell off non-core activities to fund further acquisition in the fashion sector.

Reuters 7 minutes ago

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Bitcoin Buyer Metaplanet Is Now Bigger Than Chipmaker Kioxia

(Bloomberg) -- Japan’s hotelier-turned-Bitcoin-buyer Metaplanet Inc. overtook memory chipmaker Kioxia Holdings Corp. in terms of market capitalization as the stock soared nearly 400% in less than two months, riding the global crypto rally.Most Read from BloombergShuttered NY College Has Alumni Fighting Over Its FutureAs Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention SpaceDo World’s Fairs Still Matter?NYC Renters Brace for Price Hikes After Broker-Fee BanAs American Ar

Bloomberg 1 hour ago

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Who is Luca de Meo, reported to be Kering's new CEO?

(Reuters) -Gucci owner Kering is planning to appoint Luca de Meo, currently CEO of French carmaker Renault, as its new chief executive, according to a report in newspaper Le Figaro. Below are some facts about the potential new head of the French luxury group, whose brands include Gucci, Saint Laurent, and Bottega Veneta. De Meo, 58, is from Milan, Italy, and has more than 30 years' experience working in the automotive sector.

Reuters 1 hour ago

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Kering shares up, Renault down as CEO de Meo quits the carmaker

PARIS (Reuters) -Kering shares jumped as much as 8.2% early on Monday and stocks in Renault fell over 6% after reports the French carmaker's CEO Luca de Meo was poised to become the new head of the luxury goods maker. Renault said late on Sunday that De Meo would leave the company in mid-July "to take on new challenges outside the automobile sector". De Meo turned around the French automaker in five years at the helm, overhauling its two-decade-long strategic alliance with Nissan and doubling down on hybrid motors while shifting towards electric vehicles.

Reuters 1 hour ago

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Kering Stock Surges on the Prospect of a New Company CEO

Luca de Meo, who resigned from carmaker Renault on Sunday, is widely tipped to succeed François-Henri Pinault at the management helm of the French luxury group.

WWD 2 hours ago

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Renault CEO Luca de Meo to Step Down

De Meo plans to pursue challenges outside the automotive industry after five years leading the carmaker, with one report suggesting he is to become the new boss of Kering.

The Wall Street Journal 2 hours ago

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Kering shares rise after report Renault's De Meo to become new boss

Shares in Kering rose in early trading on Monday after Le Figaro reported that Luca de Meo would become the new CEO of the luxury goods maker, after he turned around troubled automaker Renault in his five years at the helm. Kering shares gained around 5% on trading platform Tradegate by 0606 GMT and Renault shares fell around 3%. De Meo will leave Renault in mid-July, Renault said.

Reuters 2 hours ago

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RNO.PA
Archer Announces Third "Launch Edition" Partner, Striking Deal to Deploy Midnight Aircraft in Indonesia

PARIS, June 16, 2025--Archer Aviation Inc. (NYSE: ACHR) announced today that it has signed an agreement with PT. IKN covering plans to deploy an initial fleet of Midnight aircraft in Indonesia, making it the third country in which Archer is planning to deploy Midnight under its "Launch Edition" program.

Business Wire 2 hours ago

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Gucci Owner Kering Turns to Renault CEO in Turnaround Bid

(Bloomberg) -- Kering SA is set to name the chief executive officer of Renault SA as its next CEO, looking to an Italian manager who’s turned around the French automaker to perform a similar role at the owner of the struggling Gucci fashion label.Most Read from BloombergShuttered NY College Has Alumni Fighting Over Its FutureAs Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention SpaceDo World’s Fairs Still Matter?NYC Renters Brace for Price Hikes After Broker-Fee BanAs Ame

Bloomberg 3 hours ago

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Nippon Steel shares rise after Trump approves $14.9 billion US Steel bid

TOKYO (Reuters) -Nippon Steel shares rose on Monday after U.S. President Donald Trump approved its $14.9 billion bid for U.S. Steel, clearing a key hurdle in its 18-month pursuit and securing access to a vital market for its growth strategy. The approval capped a tumultuous process marked by union resistance and two national security reviews. Shares of Nippon, the world's fourth-largest steelmaker, gained 3% to 2,915 yen by the mid-day break after being untraded with a glut of buy orders earlier in the day.

Reuters 4 hours ago

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British carmaker JLR trims FY26 margin forecast on US tariff concerns

Shares in the company's Indian parent Tata Motors slumped as much as 5.2% in early trade following the announcement. The revised EBIT margin forecast is also below JLR's reported 8.5% margin for the previous fiscal year ended March 31. JLR added it sees free cash flow of close to zero in fiscal 2026.

Reuters 4 hours ago

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Could Kering’s New CEO Come From the Auto Sector?

Renault's CEO Luca de Meo resigned on Sunday, and he is poised to succeed François-Henri Pinault, Le Figaro reported Sunday.

WWD 11 hours ago

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Announcement regarding the governance of Renault Group

PRESS RELEASEJune 15, 2025 Announcement regarding the governance of Renault Group Boulogne-Billancourt, June 15,2025 – After 5 years at the head of Renault Group, Luca de Meo has announced his decision to step down and pursue new challenges outside the automotive sector. The Board of Directors, convened by its Chairman Jean-Dominique Senard, expressed their gratitude to Luca de Meo for the turnaround and transformation of Renault Group and accepted that his departure would be effective from July

GlobeNewswire 14 hours ago

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

PARIS (Reuters) -Renault CEO Luca de Meo is leaving the French carmaker to pursue a role outside the auto industry, the company said on Sunday, and newspaper Le Figaro reported he would become the new chief executive of Gucci-owner Kering. De Meo turned around the troubled French automaker in his five years at the helm, overhauling its two-decade-long strategic alliance with Nissan and doubling down on hybrid motors while shifting towards electric vehicles. The Italian will replace Kering CEO Francois-Henri Pinault, whose family controls the heavily indebted luxury conglomerate and who has been leading it for 20 years, Le Figaro reported.

Reuters 14 hours ago

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Could Buying Visa Stock Today Set You Up for Life?

Favorable tailwinds support Visa's durable double-digit growth, which is set to continue in the years ahead. The company's massive ecosystem, consisting of cards and merchants, creates a powerful network effect. In the past, Visa (NYSE: V) has done just that.

Motley Fool 18 hours ago

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Jim Cramer Says Circle Internet is “Loved Because It’s a Pure Play On Digital Assets”

Circle Internet Group (NYSE:CRCL) is one of the 18 stocks Jim Cramer recently shared insights on. While discussing the company, Cramer made the following remarks: “But the new one, the Circle Internet Group, is loved because it’s a pure play on digital assets. It’s talking about digital currencies, blockchains, the works, oh, every buzzword imaginable.” […]

Insider Monkey 23 hours ago

CRCL
Sarepta Provides Safety Update for ELEVIDYS and Initiates Steps to Strengthen Safety in Non-Ambulatory Individuals with Duchenne

CAMBRIDGE, Mass., June 15, 2025--Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, today provided a safety update regarding ELEVIDYS (delandistrogene moxeparvovec-rokl), the only approved gene therapy for patients with Duchenne muscular dystrophy, and steps the Company is taking to strengthen the safety profile in non-ambulatory patients. These steps follow a second reported case of acute liver failure (ALF) resulting in death. The cases of ALF

Business Wire yesterday

SRPT
Barclays Raises SolarEdge Technologies, Inc. (SEDG)’s PT to $12 from $11

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is among the 8 Biggest EV Stocks to Watch in 2025. Barclays is still rating SolarEdge Technologies, Inc. (NASDAQ:SEDG) as Underweight, but it has increased its price target from $11 to $12. The company mentioned the possible advantages of the next final draft of the U.S. budget reconciliation, which is anticipated […]

Insider Monkey yesterday

SEDG
US Steel Sale to Nippon Steel Poised to Close After Trump Deal

(Bloomberg) -- Nippon Steel Corp. won conditional US approval for its $14.1 billion purchase of United States Steel Corp., capping a lengthy saga in a tie-up that will create one of the world’s largest steel companies.Most Read from BloombergShuttered NY College Has Alumni Fighting Over Its FutureTrump’s Military Parade Has Washington Bracing for Tanks and WeaponryNYC Renters Brace for Price Hikes After Broker-Fee BanAs Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention S

Bloomberg yesterday

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Performance Overview

Return	ASA.OL	OBX Total Return Index (OBX.OL)
YTD	-48.46%	+17.01%
1-Year	-96.55%	+19.84%
3-Year	-99.79%	+41.79%

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Renault boss De Meo quits, with reports of switch to Gucci-owner Kering

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Performance Overview