Latest news with #LeFigaro
Le Figaro
5 hours ago
- Politics
- Le Figaro
Palestinism, Electoral Calculations, Tribalization… The Lessons of an Explosive Report on Belgium, Now a 'Laboratory' of Antisemitism
Réservé aux abonnés The Jonathas Institute, a center for the study of antisemitism, delivers for the first time a staggering assessment of Belgian society. Has Belgium been under a kind of omerta until now? That's the question raised by the Jonathas Institute, a Belgian research center, in its explosive report on antisemitism, supported by the Wallonia-Brussels Federation, one of Belgium's three federated communities. Reviewed by Le Figaro, this 76-page analysis, based in part on an Ipsos poll, paints a disturbing picture of a deeply divided society — one that is, in some respects, more antisemitic than France. 'In a context marked by a resurgence of antisemitic acts and rhetoric, surveying Belgians about their perceptions of Jews seemed obvious. And yet, no public, media, academic, or civil society actor has undertaken such a large-scale study in recent memory,' the report notes. The institute is led by Joël Kotek, an emeritus university professor and former lecturer at Sciences Po Paris, and Joël Amar, an advisor to the presidents of the Representative Council of French Jewish Institutions (CRIF). The authors observe that 'in contrast, studies…
LeMonde
4 days ago
- Automotive
- LeMonde
Renault CEO Luca de Meo unexpectedly resigns, heading to Kering
Two "Car of the Year" trophies and then he's gone! For two years in a row, Renault, under Luca de Meo's leadership, won the prestigious European award. A triumph, and then... crash. On Thursday, June 12, the chief executive informed Renault's chairman, Jean-Dominique Senard, of his intention to leave the group. The news of his departure, kept secret for a few days, was made public by the automaker on the evening of June 15, along with his departure date: July 15. De Meo is expected to join the luxury group Kering, according to Le Figaro. The company, controlled by the Pinault family, was caught off guard and did not confirm the news Sunday evening. But it is already an open secret. At 58, de Meo, who spent more than 30 years in the automotive industry and turned around the Fiat and Seat brands before leading Renault, is changing course and switching sectors entirely, an unexpected and unusual move. Within Renault's senior management, the announcement provoked a shock, followed by some disappointment. On Thursday, de Meo had presented the main outlines of his "Futurama" plan to the board's strategic committee. This plan sets out the company's strategy for the next five years, covering future vehicle models as well as diversification strategies, particularly in the defense industry. No sooner had it been presented than it was abandoned by the very person who was supposed to implement it. It was a bombshell for some board members, who are now left doubtful. When the Paris stock exchange opened on June 16, Renault shares were down nearly 6%, while Kering shares rose more than 7%.
Hypebeast
4 days ago
- Business
- Hypebeast
François-Henri Pinault Expected To Be Replaced by Renault CEO Luca de Meo at Kering
Summary Luca de Meo is set to step down from his position as Chief Executive ofRenaultin mid-July to pursue new opportunities outside the automotive to French outlet – Le Figaro, it is rumored that he will take the helm as the new CEO ofKering, the French luxury conglomerate known for iconic brands such as Gucci, Saint Laurent and Balenciaga. Although de Meo has declined to comment, speculation has intensified — particularly after reports emerged last week suggesting thatFrançois-Henri Pinault, the current Chairman and CEO of Kering, is preparing to relinquish his role and retain his position as Chairman while bringing in new leadership to steer the group. Fueling further speculation, Kering abruptly canceled a scheduled event with financial analysts set for Monday, June 16th, 2025. Kering has also recently faced mounting challenges, particularly with Gucci. Once considered their 'cash cow,' Gucci has seen asignificant declinein sales and profitability. Kering's share price has plummeted by over 60% in the past two years, and the company is currently managing more than €10 billion EUR (approximately 11.5 billion USD) in debt. Luca de Meo is widely credited with revitalizing Renault during his five-year tenure achieving economies of scale by implementing cost-cutting initiatives, shifting focus toward electric vehicles and restructuring the brand's alliance with Nissan. His proven track record has led many to believe he is being tapped to execute a similar turnaround strategy at Kering — especially as the group looks to reignite momentum at Gucci. Kering has not confirmed the reports at the moment.
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Business Standard
4 days ago
- Automotive
- Business Standard
Renault CEO Luca de Meo quits, likely to become head of Gucci-owner Kering
De Meo's unexpected departure marks the second top-level exit from a European carmaker in six months, after Carlos Tavares resigned from Stellantis Reuters PARIS Renault CEO Luca de Meo is leaving the French carmaker to pursue a role outside the auto industry, the company said on Sunday, and newspaper Le Figaro reported he would become the new chief executive of Gucci-owner Kering. De Meo turned around the troubled French automaker in his five years at the helm, overhauling its two-decade-long strategic alliance with Nissan and doubling down on hybrid motors while shifting towards electric vehicles. The Italian will replace Kering CEO Francois-Henri Pinault, whose family controls the heavily indebted luxury conglomerate and who has been leading it for 20 years, Le Figaro reported. Kering declined to comment on Le Figaro's report. De Meo will leave Renault in mid-July, Renault added. The French state holds a 15 per cent stake in the company. If confirmed, de Meo's move to Kering, which has lately failed to convince stock market investors of its plans to turn around its Gucci label, would mark a dramatic change at the group. Pinault would remain Kering's chairman. Speculation about the leadership of the group, which also owns the Yves Saint Laurent and Balenciaga labels, accelerated last week after French media reported Pinault was poised to give up the CEO role. A person familiar with the thinking of Pinault told Reuters on Friday he was actively working on his succession, which includes splitting up the two roles to hire a new CEO. Kering shares have lost more than 60 per cent of their value in the last two years, marked by a string of profit warnings and designer changes at Gucci, a former cash cow for the company and still its most important brand by sales and profits. Turnaround Architect De Meo's unexpected departure marks the second top-level exit from a European carmaker in six months, after Carlos Tavares resigned from Stellantis, at a time the sector in Europe is reeling from US President Donald Trump's trade tariffs and fierce competition from Chinese rivals. De Meo joined Renault from Volkswagen in 2020, a year when the French carmaker reported record losses after a pandemic-induced hit to sales. In the years since, De Meo launched wide-ranging cost cuts that sharply reduced headcount and production capacity worldwide and turned the firm into a smaller but nimbler company. He also oversaw a vast reshaping of Renault's decades-old, but often difficult, relationship with Japan's Nissan. Renault's focus on European markets has largely shielded it from the upheaval tied to US trade policies that German carmakers like BMW and Mercedes-Benz are facing. Renault was one of only a few automakers not to issue a profit warning last fall. Its shares are up about 90 per cent over the past five years, the best performing carmaker in Europe. Rival Stellantis is up 15 per cent and VW is down 38 per cent. Kering faces its own turnaround needs. Under Pinault's leadership, the group became a pure luxury player and enjoyed years of spectacular growth, largely thanks to Gucci. But since the Covid-19 pandemic, Kering has struggled to reinvigorate the brand and also took on more than 10 billion euros in debt which now exposes it to the risk of another credit downgrade, Reuters reported last month. Kering unexpectedly cancelled an event with analysts planned for Monday, without saying why, a person familiar with the matter said.
Straits Times
5 days ago
- Automotive
- Straits Times
Renault boss De Meo quits; report says he will head Gucci owner Kering
AS CEO of Renault, Luca de Meo turned around the troubled French automaker in his five years at the helm. PHOTO: BLOOMBERG PARIS - Renault chief executive officer Luca de Meo is leaving the French carmaker to pursue a role outside the auto industry, the company said on June 15, and newspaper Le Figaro reported he would become the new CEO of Gucci owner Kering. Mr De Meo turned around the troubled French automaker in his five years at the helm, overhauling its two-decade-long strategic alliance with Nissan and doubling down on hybrid motors while shifting towards electric vehicles. The Italian will replace Kering CEO Francois-Henri Pinault, whose family controls the heavily indebted luxury conglomerate and who has been leading it for 20 years, Le Figaro reported. Kering declined to comment on Le Figaro's report. 'Luca de Meo has expressed his decision to step down in order to take on new challenges outside the automotive sector,' Renault said in a statement. De Meo will leave Renault in mid-July, Renault added. The French state holds a 15 per cent stake in the company. If confirmed, Mr de Meo's move to Kering, which has lately failed to convince stock market investors of its plans to turn around its Gucci label, would mark a dramatic change at the group. Mr Pinault would remain Kering's chairman. Speculation about the leadership of the group, which also owns the Yves Saint Laurent and Balenciaga labels, accelerated last week after French media reported Mr Pinault was poised to give up the CEO role. A person familiar with the thinking of Mr Pinault told Reuters on June 13y he was actively working on his succession, which includes splitting up the two roles to hire a new CEO. Kering shares have lost more than 60 per cent of their value in the last two years, marked by a string of profit warnings and designer changes at Gucci, a former cash cow for the company and still its most important brand by sales and profits. Turnaound architect Mr De Meo's unexpected departure marks the second top-level exit from a European carmaker in six months, after Carlos Tavares resigned from Stellantis, at a time the sector in Europe is reeling from US President Donald Trump's trade tariffs and fierce competition from Chinese rivals. Mr De Meo joined Renault from Volkswagen in 2020, a year when the French carmaker reported record losses after a pandemic-induced hit to sales. In the years since, he unched wide-ranging cost cuts that sharply reduced headcount and production capacity worldwide and turned the firm into a smaller but nimbler company. He also oversaw a vast reshaping of Renault's decades-old, but often difficult, relationship with Japan's Nissan. Renault's focus on European markets has largely shielded it from the upheaval tied to US trade policies that German carmakers like BMW and Mercedes-Benz are facing. Renault was one of only a few automakers not to issue a profit warning last fall. Its shares are up about 90 per cent over the past five years, the best performing carmaker in Europe. Rival Stellantis is up 15 per cent and VW is down 38 per cent. Kering faces its own turnaround needs. Under Pinault's leadership, the group became a pure luxury player and enjoyed years of spectacular growth, largely thanks to Gucci. But since the Covid-19 pandemic, Kering has struggled to reinvigorate the brand and also took on more than 10 billion euros (S$14.8 billion) in debt which now exposes it to the risk of another credit downgrade. Kering unexpectedly cancelled an event with analysts planned for June 16, without saying why, a person familiar with the matter said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
