India, June 16 -- Shares of Kering SA, the Gucci owner, were gaining around 11 percent in the Paris trading after media reported that the French luxury group is set to appoint Luca de Meo, the Chief Excutive Officer of French car major Renault SA, as its new Chief. Meanwhile, Renault shares were losing around 8 percent in Paris after the company confirmed the resignation of the CEO.
In a statement on Sunday, Renault Group announced that Luca de Meo has announced his decision to step down after 5 years at the lead, to pursue new challenges outside the automotive sector. Chairman Jean-Dominique Senard said the departure would be effective from July 15, until which the CEO will continue to perform his duties.
Renault added that its Board of ...