Francois-Henri Pinault's reported decision to hire Renault boss Luca de Meo is an audacious but necessary move to address the twin challenge of sagging sales and mounting debt at luxury group Kering ,

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.

Kering SA is set to name the chief executive officer of Renault SA as its next CEO, looking to an Italian manager who’s turned around the French automaker to perform a similar role at the owner of the struggling Gucci fashion label.