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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Renault    RNO   FR0000131906

RENAULT

(RNO)
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UPDATE1: Renault picks Volkswagen's De Meo as CEO

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01/28/2020 | 10:03pm EST

Renault SA said Tuesday it has held a board meeting and named Luca de Meo, former chief of Volkswagen AG's unit in Spain, as CEO of the French automaker.

De Meo will take the helm of Renault on July 1, following the dismissal of CEO Thierry Bollore last October in an attempt to cut ties with former boss Carlos Ghosn.

De Meo, who resigned as head of the Seat brand this month, was seen as a prominent candidate for the top job at Renault.

Bollore had served as No. 2 under Ghosn, who spearheaded the auto alliance involving Renault, Nissan Motor Co. and Mitsubishi Motors Corp. before his arrest by Japanese prosecutors in November 2018 over alleged financial misconduct.

"I am very happy with the Renault board's decision to appoint Luca de Meo as CEO," Nissan President and CEO Makoto Uchida said in a statement. "We are all looking forward to working closely with him and our alliance partners in our efforts to support mutually profitable growth."

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
RENAULT -0.38% 32.535 Real-time Quote.-22.57%
VOLKSWAGEN AG -0.07% 169.34 Delayed Quote.-3.86%
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Financials (EUR)
Sales 2020 55 314 M
EBIT 2020 1 785 M
Net income 2020 1 039 M
Finance 2020 1 502 M
Yield 2020 3,28%
P/E ratio 2020 8,83x
P/E ratio 2021 5,36x
EV / Sales2020 0,13x
EV / Sales2021 0,13x
Capitalization 8 834 M
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Mean consensus HOLD
Number of Analysts 22
Average target price 43,93  €
Last Close Price 32,66  €
Spread / Highest target 179%
Spread / Average Target 34,5%
Spread / Lowest Target -38,8%
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Managers
NameTitle
Clotilde Delbos Executive VP, Chief Executive & Financial Officer
Jean-Dominique Senard Chairman
Pascale Sourisse Independent Director
Benoît Ostertag Director
Eric Personne Director
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