Renault announces a permanent new chief executive officer, just two weeks after revealing the appointment of an interim boss to replace its business-turnaround CEO, Luca de Meo.
In a move that suggests a degree of questionable thinking, Renault appoints its procurement chief François Provost to the position for a four-year term, a day before it releases its half-year financial results.
The news comes after the company put its chief financial officer, Duncan Minto, into the role as an interim appointment in the middle of July.
While Provost had been in the frame to take the helm at Renault, vying with Dacia’s CEO Denis Le Vot, Renault brand CEO Fabrice Cambolive and Stellantis’ Director of Purchasing Maxime Picat, questions remain over why an interim boss had to be appointed when a decision on Provost was so near.
Provost, 57, is another long-time Renault employee, having joined the company in 2002 after holding various executive positions in France and across Europe, including serving as CEO of Renault-Nissan Portugal from 2005 to 2008.
In 2010, he took on the role of deputy CEO of Renault Russia in charge of operations and then served as Chairman and CEO of Renault Samsung Motors in Korea for five years.
He then became the French automaker’s chief operating officer for China, followed by Asia-Pacific, and ultimately served as head of international development.
In 2023, Provost became the Renault Group’s chief procurement, partnerships and public affairs officer.
The automaker notes his fitness for the CEO role, thanks to his experience establishing major partnerships with global players such as Nissan, Geely and Aramco.
A company statement says, “(Provost’s) attributes will ensure the continuity of the Group’s development, particularly internationally, and through partnerships (and) capitalize on its strategic agility” to maintain the company’s performance trajectory initiated by predecessor de Meo, whose business strategy turned the company to profit from loss in the space of four years.
“Thanks to his expertise and knowledge of the company, we will be able to complete the implementation of our strategic plan, finalize the terms of the next one and ensure its successful execution,” Renault Chairman Jean-Dominique Senard, adds in the statement.
