The Renault boss Francois Provost (57) since July has reorganized his board. The French carmaker appointed the former Mercedes-Benz manager Katrin Adt (53) as the new head of his cheap brand Dacia, the group said on Monday. She follows Denis Le Vot, who will leave the company.
In addition, the group creates the new position of a growth board (“Chief Growth Officer”), which the previous brand boss of Renault, Fabrice Cambolive, will take over. The renovation is part of a reorganization of the board under the new CEO Provost. Previously, Le Vot was one of the candidates on the post of Renault boss.
The carmaker’s share was noticing 32 percent loss of price this year, but most recently it was up to 2 percent.
“In order to master all the challenges ahead of us, we need an organization that is able to decide faster, act more efficiently and be closer to the customer,” said Provost about the personal details. The focus on private customer business throughout her career will be important for Dacia, said analyst Michael Foundoukidis from Oddo BHF. “Dacia is an extreme brand geared towards private customer business, more than others,” he commented. “So she brings fresh blood in.”
Provost took over the leadership of Renault in July after the surprising departure of the former boss Luca de Meo (58). Renault is struggling with growing competition and a weak demand, which is already forcing the car manufacturer to warning a profit this year.