Following the resignation announcement of CEO Luca de Meo on June 15, speculation around Renault Group’s leadership transition has been intense. One month later, the company has officially named an interim chief executive.
On July 15, 2025, Renault Group issued a statement confirming that its Board of Directors has appointed Duncan Minto, the Group’s Chief Financial Officer, as interim CEO of Renault S.A., effective immediately. Minto succeeds Luca de Meo and will serve until a permanent successor is appointed. Renault said that the interim CEO will share responsibility for day-to-day operations with Chairman Jean-Dominique Senard, while the search for a new CEO is underway under the supervision of the Board’s Governance and Compensation Committee.
Luca de Meo announced his departure in mid-June, citing a desire to “pursue new challenges outside the automotive industry.” He officially stepped down on July 15 and will take up the position of CEO of luxury group Kering in September. Born in Milan in 1967, de Meo is a seasoned automotive executive, with prior roles at Renault, Toyota Europe, and Fiat. In July 2020, he became the first non-French CEO in Renault’s 122-year history, leading a sweeping corporate transformation. He also chaired Ampere, Renault’s EV unit, and spearheaded a major restructuring plan in March 2024. Widely credited with revitalizing Renault, de Meo leaves behind a strengthened company, though his exit marks a significant management shift.
The newly appointed interim CEO, Duncan Minto, is a Renault veteran who has been with the company since 1997. Born in 1975 and a graduate of the University of St Andrews, Minto has held a series of financial and executive roles across the group. His career includes positions as CFO of Renault-Nissan Portugal, Managing Director of Renault Ireland, CFO for the Asia-Pacific region, VP of Group Financial Control & Analysis, and CFO roles at Dacia and Alpine. He was named Group CFO in March 2025 and joined the Executive Committee. His extensive financial background positions him to guide the company during this transitional phase.
Despite the leadership change, Minto faces immediate challenges. On the same day as his appointment, Renault lowered its 2025 outlook, cutting its operating margin forecast from “at least 7%” to around 6.5%, and reducing free cash flow expectations from “at least €2 billion” to €1–1.5 billion. The company cited weakening European demand, trade tensions, and intensifying competition from Chinese automakers as key pressures. Renault will release its Q1 2025 earnings report on July 31.
For reference, in fiscal year 2024 Renault Group recorded €56.2 billion in revenue (+7.4% YoY), an operating profit of €4.26 billion (+3.5%), an operating margin of 7.6%, and net income of €2.8 billion (+21%). Global sales reached 2.26 million units, including 1.58 million Renault-brand vehicles (+1.8%) and 676,300 Dacia vehicles (+2.7%).
