Gucci parent, Kering, appointed Renault's former CEO, Luca de Meo, as its chief executive, as the company struggles to improve its weak performance.

(Reuters) -Gucci-owner Kering has appointed Luca de Meo, currently CEO of French carmaker Renault, as its new chief executive, it said on Monday. Below are some facts about the new head of the French luxury group, whose brands include Gucci, Saint Laurent, and Bottega Veneta.

The struggling French luxury group is set to name Renault Chief Executive Luca de Meo as CEO, replacing Francois-Henri Pinault, people familiar with the matter said.

A series of delicate issues awaits the Italian executive, who comes from Renault: an unfavorable economic climate, significant group debt and the collapse of sales at flagship brand Gucci. Financial markets have responded positively to the announcement of his appointment.