Renault board wants VW Group’s de Meo as CEO, reports say

Europe

Renault’s board wishes Luca de Meo, who heads Volkswagen Group’s Seat manufacturer, to turn into the automaker’s subsequent CEO, French reviews stated.

De Meo received out about Patrick Koller, CEO of the provider Faurecia, in accordance to Agence France-Presse (AFP) and Les Echos.

The board selected de Meo as their most well-liked applicant at its conference on Tuesday,&#xA0 the reviews stated.

De Meo, 52, received the assist of the French govt, Renault’s major shareholder with a 15 per cent stake, AFP stated.

Nonetheless, a stumbling block to de Meo’s appointment could be a non-contend clause he has with VW Team, Les Echos stated.

De Meo, an Italian govt, emerged as favorite for the Renault CEO submit since of his accomplishment in generating the Spanish manufacturer lucrative. He also speaks French and started off his job at Renault ahead of operating for Toyota and Fiat.

Renault’s interim CEO, Clotilde Delbos, the automaker’s finance manager, was not viewed as for the CEO career since she is somewhat new to the sector and has only a monetary history, reviews stated.

Renault has been looking for a new CEO due to the fact its board ousted Thierry Bollore in mid-Oct, as the French automaker and its alliance associate, Nissan, cleared out supervisors intently linked with the Carlos Ghosn period.

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