Luca de Meo's departure from Renault likely to cause near-term uncertainty as analysts debate whether it will impact its growth strategy and make investors cautious.

Renault Chief Executive Luca de Meo plans to step down in mid-July and pursue new challenges outside the automotive industry, with French newspaper Le Figaro reporting he is set to become the new boss of Gucci-owner Kering.

The head of Renault’s budget brand Dacia, Denis Le Vot, is a frontrunner to become chief executive at the French carmaker, following the shock announcement of Luca de Meo’s exit for luxury group Kering.

“Luca de Meo's departure is unequivocally a blow to Renault ,” said Stephen Reitman, automotive analyst at the bank Bernstein, of de Meo’s decision to leave the industry altogether for the luxury goods world, specifically as head of Gucci owner Kering. “We are saddened by the loss,” he added.

The departure from Renault of chief executive Luca de Meo changes nothing for the French carmaker's Alpine Formula One team, de facto principal Flavio Briatore told Reuters on Sunday.Renault announced