Henri Pinault's reported decision to hire Renault boss Luca de Meo is an audacious but necessary move to address the twin challenge of sagging sales and mounting debt at luxury group Kering, investors and industry players say.

In a surprise move, French carmaker Renault Group’s CEO Luca de Meo announced his departure on Sunday. The company’s shares tumbled by nearly 7% on Monday, following the news.View on euronews

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Francois-Henri Pinault has recruited Luca de Meo, Renault's boss, to tackle Kering's declining sales and rising debt. De Meo, known for turning around Renault, faces challenges, including Gucci's struggles and a costly potential acquisition of Valentino.

The following is a timeline of the major events in the French luxury fashion group's history. 1962 - Francois Pinault founds Etablissements Pinault, a timber trading company based in Rennes that will transform into Kering.

The Kering Board of Directors, chaired by François-Henri Pinault, today approved the appointment of Luca de Meo as Chief Executive Officer of the Group, as recommended by the Appointments and Governance Committee. This decision, initiated by François ...

Luca de Meo, who resigned from carmaker Renault on Sunday, is widely tipped to succeed François-Henri Pinault at the management helm of the French luxury group.

By Purvi Agarwal and Sanchayaita Roy (Reuters) -European shares edged higher on Monday, rebounding from last week's losses, as investors shook off jitters stemming from escalating geopolitical tensions in the Middle East,