Luca de Meo's abrupt departure as Renault CEO has kicked off a search for his successor, with analysts mentioning longtime insider Denis Le Vot and Maxime Picat of rival Stellantis as suitable fits to continue the French automaker's turnaround.

The boss of French state-backed car giant Renault has quit unexpectedly after warning that European manufacturers were struggling to compete with cut-price Chinese rivals.

The head of Renault’s budget brand Dacia, Denis Le Vot, is a frontrunner to become chief executive at the French carmaker, following the shock announcement of Luca de Meo’s exit for luxury group Kering.

Nissan Motor plans to reduce its stake in French automaker Renault from 15% to 10%, according to CEO Ivan Espinosa.

The Italian De Meo was at the helm of the French car brand for five years. He remains true to the "lifestyle" theme and moves to the luxury fashion group Kering.

LONDON (Reuters) -News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and subsequent reports of him being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors. Here's some initial reaction from analysts.

Despite recent divestments, Nissan's CEO insists the move from Renault is strategic, not a breakup. Discover what this means for the future of their enduring automotive alliance.

Reports of de Meo’s switch to Kering sent the luxury group’s shares up by nearly 12% on Monday, recording their biggest one-day percentage gain since November 2008.