After impressing with his turnaround of French automaker Renault, Luca De Meo is widely expected to be named as the new boss of Gucci owner and luxury powerhouse Kering.

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.

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.

De Meo plans to pursue new challenges outside the automotive industry after having led the carmaker for five years.

The automotive group Renault announced on Sunday evening that its CEO Luca de Meo is stepping down after five years in office. The reason for this is

The Italian is set to leave Renault next month to become boss of Kering, the struggling owner of Gucci and Saint Laurent, from mid-September. While de Meo has spent his entire career in the car industry, he has been making discreet overtures to the luxury industry for some time, according to two people with knowledge of the situation.

Kering surged nearly 10% after news broke that Renault CEO Luca de Meo is set to take over the debt-heavy luxury group, according to five sources cited by Reuters. Meanwhile, Rena

PARIS (Reuters) -Shares in Kering rose in early trading on Monday while stocks in Renault fell after reports the French carmaker's CEO Luca de Meo was poised to become the new chief executive of the luxury goods maker.

Kering setzt bei seinem nächsten Vorstandsvorsitzenden auf den Noch-Renault-Chef. Der Italiener hat den französischen Automobilhersteller erfolgreich saniert und soll seine Fähigkeiten nun auch beim angeschlagenen Modelabel Gucci unter Beweis stellen.