Renault Group has appointed Carine Damois as its new Chief Financial Officer, bringing in an experienced finance executive from Michelin as CEO François Provost continues to shape his leadership team. She will take up the position on November 14.
Damois has been Deputy CFO of Michelin since 2021 and has more than 20 years of experience in senior finance roles at international industrial groups. At Renault, she succeeds Duncan Minto, who is leaving the company for a new professional opportunity outside the group.
The change is more significant than a routine CFO reshuffle. Minto had spent almost three decades at Renault, holding financial and management positions across the group before becoming CFO of Alpine and, in March 2025, CFO of Renault Group. He also briefly took over Renault’s day-to-day management after Luca de Meo’s departure last year, before Provost was appointed CEO.
Damois therefore brings an external perspective to one of Renault’s most important management positions at a crucial moment for the company.
From Michelin to Renault
At Michelin, Damois’ responsibilities stretched well beyond traditional accounting. Her experience covers treasury, risk management, tax, strategic planning, sustainable finance, and organizational transformation. Before becoming Deputy CFO, she held several management positions within Michelin and previously worked for the nuclear and energy group Areva.
Renault CEO François Provost highlighted her extensive industrial experience and transformation expertise. That background could prove particularly relevant as Renault enters another capital-intensive phase of its transition.
The group recently confirmed plans to invest another €13 billion in France by 2030, much of it linked to electrification, new models, and its industrial ecosystem. At the same time, Renault is trying to make electric cars more affordable and maintain profitability in an increasingly competitive European market.
Keeping costs under control
That puts the CFO at the heart of Renault’s next strategic phase. Under its futuREady plan, the group wants to reduce variable production costs by around €400 per vehicle per year while keeping fixed cash costs broadly stable.
For 2026, Renault is targeting an operating margin of around 5.5% and automotive free cash flow of approximately €1 billion. Those targets come as the company invests in cars such as the Renault 4 and 5, prepares more affordable EVs such as the Twingo E-Tech, and expands further outside Europe.
Damois will therefore have to help balance two potentially conflicting ambitions: financing Renault’s next generation of products and technologies while keeping costs, margins, and cash flow firmly under control.
Her arrival also gives Provost his own finance chief, just over a year after he took the top job. Minto was appointed CFO under former CEO Luca de Meo, while Damois will report directly to Provost and join Renault Group’s Leadership Team.
The appointment suggests continuity in Renault’s strategy, but with a different profile overseeing its finances: less Renault insider, more external industrial experience, just as the group prepares to spend heavily on the next stage of its electric transition.
