Renault reported a first-half net loss attributable to the group of 11.19 billion euros ($12.78 billion) on Thursday, including a one-off 9.3 billion euros from writing down its investment in partner Nissan flagged earlier this month.
Incoming Renault CEO Francois Provost will take the helm of the French automaker at a time when it is beginning to show cracks in its recent success, revising down its full year profit forecast earlier this month due to weaker sales volumes.
Renault named Francois Provost, its chief procurement officer, as CEO on Wednesday, opting for a little-known company insider to steer the French carmaker through growing competition and weak demand that triggered a profit warning earlier this month.
Renault procurement chief Francois Provost has emerged as the front-runner for the CEO job at the French automaker, Bloomberg reported on Tuesday, citing people familiar with the matter.
Stellantis on Friday appointed Gilles Vidal, credited with overhauling Renault's line up, as head of design for its European brands at a time when the automaker needs to better manage its sprawling portfolio.
Register for Free
StocksGuide is the ultimate tool for easily finding, analyzing and tracking stocks. Learn from successful investors and make informed investment decisions. We empower you to become a confident, independent investor.