Renault has appointed Duncan Minto, its chief financial officer, as interim CEO following the departure of Luca de Meo, who left to lead luxury group Kering. The French automaker simultaneously lowered its 2025 financial guidance, prompting a sharp decline in its share price by as much as 17%. The company cited a profit warning amid a challenging automotive market. On July 31, Renault will replace Minto with François Provost, a seasoned company veteran and former procurement chief, who has been with Renault since 2002 and has held leadership roles in Portugal and China. Renault expects improved performance in the second half of the year driven by strong orders and new product launches while accelerating cost-cutting measures to navigate the weaker market conditions.