With 23 years of service within the Renault Group, Francois Provost replaces Luca de Meo as CEO and Chairman following the Italian's shock resignation.

The Renault Group Board of Directors, under the chairmanship of Jean-Dominique Senard, has decided, following recommendation from the Governance and Remuneration Committee, to appoint Francois Provost as Chief Executive Officer of Renault S.A. and Chairman of Renault s.a.s., effective July 31, for a term of four years. The Board also appointed Francois Provost as Director of Renault S.A. and Renault s.a.s.

Previously Chief Procurement, Partnerships and Public Affairs Officer, Provost is an experienced executive with 23 years of service within the Group. With a strong international experience in both operational and strategic roles, an in-depth understanding of the sector's challenges, and a strategic vision, he has the qualities required to continue and accelerate the development of Renault Group. Furthermore, his attributes will ensure the continuity of the Group's development, particularly internationally, and through partnerships, capitalise on its strategic agility, and maintain high performance standards, in full respect of the company's values.

At the conclusion of the Board of Directors meeting, Jean-Dominique Senard stated: " I am confident that Francois Provost will lead the Group with discernment and determination in an environment that demands both rigor in execution, strategic vision, and the ability to innovate. In this rapidly changing industry, his determination and sense of responsibility will be true assets to guide the teams and sustain our momentum. At Renault Group, there is no place for the status quo . Thanks to his expertise and knowledge of the company, we will be able to complete the implementation of our strategic plan, finalise the terms of the next one, and ensure its successful execution. I sincerely look forward to working with him. I would also like to warmly thank Duncan Minto for serving as interim during these past few days.

"It is with pride and gratitude that I welcome my appointment," added Provost. "I would like to warmly thank my President, Jean-Dominique Senard, and the Board of Directors for the trust they have placed in me. I have a special thought for the teams across the Group who have supported me throughout these past 23 years. I will dedicate all my energy and passion to contributing - alongside our 100,000 employees, our dealers, suppliers, and partners - to the development of our Group, one of the flagships of French industry for the past 127 years.

"Renault Group benefits from strong fundamentals, with committed teams, an outstanding range of products, strong brands, and an innovative organisational model. These will be invaluable assets as we accelerate our transformation in an increasingly demanding environment for our industry. You can count on my commitment and determination to write the next page of our history together."