Luca de Meo

Following de Meo's departure, Renault decided to reintegrate Ampere's main activities into the group from July 2026, explaining that cancellation of the IPO had made a separate legal structure unnecessary and that the organisation needed simplifying.

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Legal status — source text

Not applicable

De Meo announced his departure from Renault at very short notice to take on a challenge outside the automotive sector, before being appointed chief executive of Kering. The departure surprised the market as he had become closely associated with the carmaker's turnaround plan.

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Personally implicated

Kering offered de Meo a 20-million-euro joining bonus to compensate for remuneration rights forfeited at Renault, alongside a fixed salary of 2.2 million, variable pay of up to 6.6 million and performance shares.

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Directly implicated

Total remuneration awarded to de Meo for 2023, including performance shares, exceeded 5.2 million euros. Renault's board subsequently proposed a substantial increase in his 2024 remuneration to bring it closer to that of comparable executives.

State of the evidence

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Directly implicated

As Renault chief executive and ACEA president, de Meo warned that the European industry could face up to 15 billion euros in fines if electric vehicle adoption remained too slow and called for greater regulatory flexibility.

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Personally implicated

De Meo's strategy separated some electric vehicle and software activities into Ampere and reorganised combustion-engine and hybrid activities around Horse with partners. The project was presented as a way to accelerate the transition but raised questions about the group's complexity and technology sharing.

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Direct responsibility

After years of tensions within the alliance, de Meo reached a new agreement with Nissan reducing the partners' cross-voting stakes to 15% and placing Renault's surplus Nissan shares in a trust. The compromise reduced the historic imbalance between the partners.

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Direct responsibility

Under Luca de Meo, Renault sold its Moscow factory and controlling stake in AvtoVAZ for nominal amounts following the invasion of Ukraine, resulting in approximately 2.2 billion euros in write-downs and a substantial first-half net loss.

State of the evidence

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Legal status — source text

Not applicable

Attribution

Direct responsibility