By Gilles Guillaume, Mathieu Rosemain and Mimosa SpencerPARIS (Reuters) -Gucci owner Kering is poised to hire Renault Chief Executive Luca de Meo to help revive the debt-laden luxury conglomerate, five sources said on Monday,

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.

STORY: Renault is beginning the search for a new boss. That’s after current Chief Executive Luca de Meo agreed to make a surprise move to Gucci-owner Kering. He’s due to be gone by mid-July. The news sparked a tumble for Renault shares on Monday,