Continuity in Leadership Prioritized to Maintain Renault's Momentum

After the sudden departure of its CEO, Luca de Meo, in mid-2025, who was responsible for the "Renaulution" turnaround strategy, we believe the appointment of Renault stalwart François Provos as CEO, whose key messaging is continuity, is the right appointment given industry volatility, and the current strategy makes sense. Having promptly achieved the targets of the Renaulution strategy, launched in 2021, the next phase of Renault’s strategy, called “Futurama,” was shared at the start of 2025. This next stage focused on pushing product innovation, strengthening partnerships to leverage scale benefits, and investigating adjacent opportunities to reduce the firm's cyclicality through the cycle.