The French car manufacturer Renault has appointed his shopping director Francois Provost (56) as the new group of corporations and thus relies on a manager from his own ranks in a difficult phase. Provost took over the office on July 31, the car manufacturer announced on Wednesday. The new line -up was necessary after the previous boss Luca de Meo (58) surprisingly declared his resignation a month ago to a luxury goods group Kering to change. The French car manufacturer’s share had fallen by a third this year.
Provost has the necessary skills to continue the development of the Renault Group, the statement said. He has a strong international experience, a deep understanding of the challenges of the industry and a strategic vision.
Provost takes up his office in a crucial time for Renault. The group fights with increasing competition and a weak demand, which led to a winning warning at the beginning of the month. Most recently, Renault had developed better than many competitors because the focus on Europe in front of the President’s US tariffs by President Donald Trump (79) Protected triggered trade faults. However, Renault makes this dependency more susceptible to the weak growth in the region.
Disappointing sales figures in June forced the group to reduce its margin forecast for the year as a whole and to tighten the austerity measures.