P1racenews AI automatic summary:
It has been confirmed that Renault are on the search for a new CEO, following a remarkable development at the French car manufacturer.
Renault CEO Luca de Meo has resigned after five years and is reportedly moving to the struggling luxury group Kering.
This major transition was first reported by Le Figaro, with Renault confirming de Meo’s departure.
Under de Meo’s leadership, significant changes were made to the Alpine F1 Team, with Renault exiting as a powertrain supplier after this season.
Alpine will transition to a Mercedes customer outfit next season as part of the new power unit regulations.
Renault stated that de Meo chose to step down to explore new opportunities beyond the automotive industry, as reported by Reuters.
