Renault, somewhat stunned, has confirmed Luca de Meo's departure for mid-July. Meanwhile, Kering has not yet confirmed his arrival, but the separation of the roles of chairman and CEO, the cancellation of an important meeting with analysts on Monday, and the convergence of rumors leave little room for doubt. At Renault, de Meo has cleaned house, taking on the difficult legacy of Carlos Ghosn. And it has paid off: a return to profitability, a refocus on Europe, and an end to the three-way saga with Nissan and Mitsubishi. Bonus: Renault's share price has doubled since 2019: it's a rocket on the stockmarket. Internally, it's more like a shuttle undergoing maintenance, but at least the engines are still running.

For Kering, this arrival is a real coup, as it combines several positive narrative elements. First, Luca de Meo is a successful boss: the return to favor of Renault, but also the emergence of the commercial hit Cupra at Seat, and the revival of the Fiat 500. Second, Luca de Meo comes from a completely different industry: what could be more disruptive for a company looking for a new lease of life? Finally, he is Italian, which matters when your main brands are called Gucci, Balenciaga, and Bottega Veneta.

"Brand management and marketing are his specialties, which fits well with the demands of the luxury industry, a field he seems to be passionate about," Bernstein analyst Luca Solca says, who points out that he is a fan of complex Swiss watches. However, he will not have an easy task, as Kering is a large ship adrift. But his arrival is viewed positively by shareholders who have seen the value of their investment plummet by two-thirds (yes 2/3 !) in three years.