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Investing.com -- Kering (EPA: PRTP) shares jumped over 7% on Monday after reports that Luca de Meo, former CEO of Renault (EPA: RENA), may be appointed as the French luxury group’s next chief ...

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Investing.com -- Kering (LON: 0IIH) (EPA: PRTP) shares jumped over 7% on Monday after reports that Luca de Meo, former CEO of Renault (EPA: RENA), may be appointed as the French luxury group’s next ...

Renault shares, meanwhile, shed 7%. "Brand management and marketing are [de Meo's] forte, which dovetails with what the luxury industry does," Bernstein analysts wrote in a note Monday.

The struggling French luxury group is set to name Renault Chief Executive Luca de Meo as CEO, replacing Francois-Henri Pinault. Santos Gets $18.72 Billion Takeover Offer From Adnoc-Led Consortium ...

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"After five years leading Renault Group, Luca de Meo has announced his decision to leave his position," said a company statement, adding that his departure would take effect on July 15.