Renault Kicks Off CEO Search
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The boss of French state-backed car giant Renault has quit unexpectedly after warning that European manufacturers were struggling to compete with cut-price Chinese rivals.
Nissan Motor plans to reduce its stake in French automaker Renault from 15% to 10%, according to CEO Ivan Espinosa.
Luca de Meo's departure from Renault likely to cause near-term uncertainty as analysts debate whether it will impact its growth strategy and make investors cautious.
Renault SA tumbled the most since July as Chief Executive Officer Luca de Meo prepared to leave the French automaker and join Kering SA as its next leader.
Despite recent divestments, Nissan's CEO insists the move from Renault is strategic, not a breakup. Discover what this means for the future of their enduring automotive alliance.
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