Renault SA is under pressure to quickly find a replacement for Chief Executive Officer Luca de Meo after the shock news of his planned departure, as the industry grapples with rising trade tensions and intense competition from Chinese manufacturers led by BYD Co.

Luca de Meo, a seasoned executive with more than three decades of experience in the automotive industry, is set to take the helm at Kering, the French multinational group renowned for its portfolio of luxury brands.

French luxury group and Gucci-owner Kering has announced the appointment of former Renault CEO Luca de Meo as the new chief of the group. The strategic move strengthens the group's leadership and supports its growth trajectory.