Francois-Henri Pinault, who has held the CEO title since 2005, is to remain chairman of the family-controlled luxury group. De Meo is expected to start on Sept. 15.

WHO IS HE? De Meo, 58, is from Milan, Italy, and has more than 30 years' experience working in the automotive sector. He graduated from the Luigi Bocconi Commercial University wit

The appointment of de Meo, 58, marks a big change at Kering, owner of the Gucci and Saint Laurent brands, where François-Henri Pinault, a member of the family that controls the group, has been chair and chief executive for 20 years.

The former chief executive of the carmaker Renault will replace Francois-Henri Pinault as the struggling company seeks a turnaround.

The struggling French luxury group is set to name Renault Chief Executive Luca de Meo as CEO, replacing Francois-Henri Pinault, people familiar with the matter said.

Renault Group has announced that Luca de Meo is stepping down from the position of the CEO, citing a desire to “pursue new challenges outside the automotive sector”. The surprise departure of the Italian automotive executive comes after five rather successful years in the role and will be effective on July 15.

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.