While fixing French carmaker Renault SA, Chief Executive Officer Luca de Meo pursued a hobby that would feed into his next job as CEO of Kering SA: A taste for the finer things in life, particularly Swiss watches.

WHO IS HE? De Meo, 58, is from Milan, Italy, and has more than 30 years' experience working in the automotive sector. He graduated from the Luigi Bocconi Commercial University wit

The Italian is set to leave Renault next month to become boss of Kering, the struggling owner of Gucci and Saint Laurent, from mid-September. While de Meo has spent his entire career in the car industry, he has been making discreet overtures to the luxury industry for some time, according to two people with knowledge of the situation.

A series of delicate issues awaits the Italian executive, who comes from Renault: an unfavorable economic climate, significant group debt and the collapse of sales at flagship brand Gucci. Financial markets have responded positively to the announcement of his appointment.

News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and sources saying he is being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors.

The luxury group confirmed speculations reported by a number of media outlets this weekend. Pinault will retain his role as Kering chair.

De Meo plans to pursue new challenges outside the automotive industry after having led the carmaker for five years.

Henri Pinault's reported decision to hire Renault boss Luca de Meo is an audacious but necessary move to address the twin challenge of sagging sales and mounting debt at luxury group Kering, investors and industry players say.

(Reuters) -Gucci-owner Kering has appointed Luca de Meo, currently CEO of French carmaker Renault, as its new chief executive, it said on Monday. Below are some facts about the new head of the French luxury group, whose brands include Gucci, Saint Laurent, and Bottega Veneta.

The former chief executive of the carmaker Renault will replace Francois-Henri Pinault as the struggling company seeks a turnaround.