Luca de Meo
CEO of Renault Group
Education
- degree in Business Administration - Bocconi University in Milan
- -
Overview
Luca de Meo is an Italian automotive executive who is currently the CEO of Renault Group
In January 2020, it was announced that he would be the CEO of Renault Group effective July 2020.
In 2020, he entrusted the brand Dacia, whose positioning he aspired to readjust, to Denis le Vot.
In January 2021, de Meo presented "Renaulution", the new strategic plan for Renault Group articulated in three phases: Resurrection, Renovation and Revolution. The plan seeks to develop Renault's brands and their vehicles and make an electric transition.In 2022, it was announced that Renault Group started to witness a financial improvement and de Meo managed to turn around the company in 18 months. Accordingly, better financial results for 2021 were released, they included a 6% increase in revenues and a net profit approaching one billion (€967 million).
In November 2022, on the occasion of Renault Group's "Capital Market Day", he announced a reorganization of the Group into five divisions, including Ampere a subsidiairy dedicated to electric cars.
In January 2022, he officially announced the construction of the future electric SUV at the Alpine factory in Dieppe. Luca de Meo intends to occupy the high-segment with this brand, relaunched as part of the second version of the Renaulution plan.
In January 2023, Luca de Meo completed the first phase of his "Renaulution" program in less than two years. In 2023, de Meo's strategy was bringing about results as Renault's operating margin increased to 5.6% for the past year, compared to only 2.8% in 2021. When he first joined Renault Group, the company was losing €8 billion.Two and a half years after, Luca de Meo managed to make the Group witness a financial recovery.
Luca de Meo aims at making Renault become a 100% electric brand by 2030 in Europe. Overall, Renault Group, led by de Meo, seeks to become carbon-neutral in Europe by 2040 and worldwide by 2050.
In February 2023, he introduced a plan for the production of Renault electric vehicles in France.
In 2023, he unveils the new Formula 1 single-seater Alpine in London. The same year, it is announced that Alpine is currently in talks with AutoNation, a US distributor.
In the sports segment, Alpine grew by 33% in 2022
Early Life
de Meo Born in Milan in 1967 to parents originating from the Puglia region, de Meo received a degree in Business Administration from Bocconi University in Milan. In his thesis he examined business ethics, which was one of the first dissertations on this subject in Italy. De Meo developed a passion for cars at the age of seven. He was intrigued by the Italian pilot Arnaldo Cavallari, who took de Meo for a ride in his Lancia Fulvia HF.
Career
- Renault Group - CEO
Other Activites
De Meo was a member of the Supervisory Board of Ducati and Lamborghini from 2015 to 2020.
Luca de Meo was an Independent Member of the Board of Directors of Gruppo TIM until 2022.
In December 2022, Luca de Meo was elected to chair the European Automobile Manufacturers Association (ACEA) in 2023, succeeding the President of BMW Group, Oliver Zipse.As the President of ACEA, Luca de Meo asserted the need for measures that would support the association's aim of 'decarbonization' to be able to defy the 'growing global competition'. He also addressed the industry's devotion to supporting 'e-mobility' and guaranteeing 'value creation and jobs', particularly in Europe.
As the President of ACEA, Luca de Meo emphasized the 'deindustrialization' and 'relocation' of the automotive industry. In January 2023, in an open letter, he expressed the automotive industry's urgent need for an 'ambitious' and 'structured' automotive industrial policy by the EU to compete with other regions in the world.De Meo also highlights the importance of developing European electric vehicles. Accordingly, he called for the necessity of regional European support in terms of measures to maintain the competitive nature of the European automotive industry.
Recognition
In July 2015, de Meo was named "commendatore" by the Order of Merit of the Italian Republic, and Harvard University dedicated a case study to him in 2013, for his work in the Volkswagen Group as Marketing Director.
In 2017, he was named Bocconi Alumnus of the Year, for representing the university values of professionalism, initiative, integrity, responsibility and openness to pluralism. His competences in leadership are said to be in marketing, product planning, having attention to detail and avoiding conflict, while he lacks an engineering background. His personality has been described as collegial, humorous and culturally adaptive.
In November 2019, he was provided the "Entrepreneur of the Year Medal of Honour" by the Catalan Employers.
In March 2021, King Felipe VI of Spain awarded him with the Grand Cross of the Order of Isabella the Catholic.
In 2022, he was appointed as 'Cavaliere del Lavoro' by a presidential decree in Italy.
In December 2022, Luca de Meo received the Chevalier (Knight) rank of the French Legion of honor
