Our assumptions earlier today that François Provost would be nominated as the new CEO of the Renault Group have been confirmed. The official announcement came late in the afternoon.
“The Renault Group Board of Directors, meeting today (Wednesday, July 30) under the chairmanship of Jean-Dominique Senard, decided, following recommendation from the Governance and Remuneration Committee, to appoint François Provost as Chief Executive Officer of Renault S.A. and Chairman of Renault s.a.s., effective July 31, for a term of four years.”
After the Board of Directors meeting, Jean-Dominique Senard stated: ” I am confident that François Provost will lead the Group with discernment and determination in an environment that demands both rigor in execution, strategic vision, and the ability to innovate.”
No place for status quo
“In this rapidly changing industry, his determination and sense of responsibility will be true assets to guide the teams and sustain our momentum. At Renault Group, there is no place for the status quo. Thanks to his expertise and knowledge of the company, we will be able to complete the implementation of our strategic plan, finalize the terms of the next one, and ensure its successful execution. I sincerely look forward to working with him. I would also like to warmly thank Duncan Minto for serving as interim during these past few days,” he added.
François Provost reacted: “It is with pride and gratitude that I welcome my appointment. I would like to warmly thank my President, Jean-Dominique Senard, and the Board of Directors for the trust they have placed in me. I have a special thought for the teams across the Group who have supported me throughout these past 23 years.”
Increasingly demanding environment
“I will dedicate all my energy and passion to contributing, alongside our 100,000 employees, our dealers, suppliers, and partners, to the development of our Group, one of the flagships of French industry for the past 127 years. Renault Group benefits from strong fundamentals, with committed teams, an outstanding range of products, strong brands, and an innovative organisational model. These will be invaluable assets as we accelerate our transformation in an increasingly demanding environment for our industry. You can count on my commitment and determination to write the next page of our history together,” he concluded.
Tomorrow, Thursday, July 31, Renault Group will publish its half-year financial results, as promised. Undoubtedly, they will be commented on by the new CEO, François Provost.
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