News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and sources saying he is being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors.

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 automotive group Renault announced on Sunday evening that its CEO Luca de Meo is stepping down after five years in office. The reason for this is