Renault has appointed Duncan Minto as interim chief government till it names a everlasting successor to Luca de Meo, who stepped right down to run luxurious group Kering.
At present serving as chief finance officer of Renault Group, Minto will oversee the day-to-day operations of the corporate in shut collaboration with Jean-Dominique Senard, who will function chairman of the group’s working firm, in the course of the transition interval.
A profession finance government with Renault since 1997, Minto started his profession with Renault Group within the UK in 1997 earlier than transferring to the its finance division in France in 2001, the place he led investor relations.
He went on to function finance director of Renault-Nissan Portugal in 2006, managing director of Renault Eire in 2012, and CFO of the group’s Asia-Pacific area in 2013.
In 2017, he was appointed VP of finance, group management snalysis. He later turned CFO of Dacia in 2022, then CFO of Alpine in 2023.
On 1 March 2025, he assumed the position of chief finance officer of Renault Group and joined the group’s management staff.
The French automotive maker mentioned the recruitment course of for a brand new CEO is effectively superior. Renault Group will current its half-year monetary outcomes on 31 July.
In preliminary monetary figures for the primary half of 2025, Renault as we speak reported a small rise in income to €27.6 billion – up 2.5% in comparison with final 12 months. Its working revenue margin stood at 6%, and it generated €47 million in free cash-flow.
Nonetheless, this efficiency was affected by weaker-than-expected gross sales in June, elevated stress from rivals, and delays in billing that harm short-term money move. The corporate additionally ended June with extra automobiles in inventory than deliberate, because of slower gross sales.
Due to these challenges, Renault mentioned it was revising its full-year expectations. It now goals for a barely decrease revenue margin of round 6.5%, down from its earlier aim of not less than 7%, and expects to generate between €1 and €1.5 billion in free cash-flow – lower than the €2 billion beforehand focused.
To remain aggressive in a tricky market, Renault mentioned it will ramp up cost-cutting efforts, together with lowering spending in areas like administration, manufacturing, and analysis though added that it was assured that it was well-positioned due to a powerful line-up of recent automobiles, stable demand in Europe, and an environment friendly manufacturing community.
