France Expects Renault to Name New CEO in a Few Days

Date: January 14, 2020
Source: Reuters

PARIS -- French Finance Minister Bruno Le Maire said on Tuesday he expected Renault to name its new CEO in a few days.

Luca de Meo, who stepped down as the head of Volkswagen Group's Seat brand last week, is seen as a frontrunner for the job, although a stringent non-compete clause in his contract with VW Group may prove a hurdle, sources have told Reuters.

Renault's board ousted Thierry Bollore, a Ghosn-era appointee, as CEO in October.  The automaker's finance chief, Clotilde Delbos, is interim CEO.

Le Maire also said on French CNews TV that media reports that some Nissan executives wanted to break up the alliance with Renault were "malicious."

The French government is Renault's largest shareholder with a 15 percent stake.

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