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[QUOTE="Munyaradzi Mafaro, post: 43137, member: 636"]
Renault CEO Luca de Meo quits his job after five years leading the car company. The Italian executive leaves July 15 to work for luxury fashion group Kering. De Meo faced major problems with electric car projects and the struggling Alpine racing brand. Company officials announced his departure Sunday evening during racing events. He joined Renault during July 2020 and promised major changes.

De Meo moves from cars to high-end fashion brands like Gucci and Saint Laurent. Kering competes against LVMH luxury companies for wealthy customers worldwide. The executive built his career at Toyota, Fiat and Volkswagen before Renault. Car companies struggle with electric vehicle costs and supply chain issues. Fashion offers different challenges but steadier profits for executives.

Alpine Formula 1 team performed poorly under de Meo leadership despite big promises. The racing squad won only one race since 2021 and finished last among constructors. Management hired Flavio Briatore as advisor during summer 2024 for strategic changes. Alpine decided to stop using Renault engines starting 2026 season. Renault may sell the racing team after de Meo departure.
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