Renault SA is under pressure to quickly find a replacement for Chief Executive Officer Luca de Meo after the shock news of his planned departure, as the industry grapples with rising trade tensions and intense competition from Chinese manufacturers led by BYD Co.

Luca de Meo is a self-proclaimed ‘car guy’ who turned Renault Group around and reinvented Alpine – so his abrupt departure for the world of luxury goods is a sign of headwinds coming for the car indus

MILAN (Reuters) -Shares in Kering rose in early trading on Monday after Le Figaro reported that Luca de Meo would become the new CEO of the luxury goods maker, after he turned around troubled automaker Renault in his five years at the helm.