Renault Chief Executive Luca de Meo plans to step down in mid-July and pursue new challenges outside the automotive industry, with French newspaper Le Figaro reporting he is set to become the new boss of Gucci-owner Kering.

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

Kering has struggled to turn things around at Gucci, the Italian fashion house famous for its handbags and which accounts for half of the group's overall sales. The new chief executive will take over in September.