Renault makes British executive Duncan Minto interim CEO

Renault has appointed Duncan Minto as interim chief executive until it names a permanent successor to Luca de Meo, who stepped down to run luxury group Kering.

Currently serving as chief finance officer of Renault Group, Minto will oversee the day-to-day operations of the company in close collaboration with Jean-Dominique Senard, who will serve as chairman of the group’s operating company, during the transition period.

A career finance executive with Renault since 1997, Minto began his career with Renault Group in the UK in 1997 before moving to the its finance department in France in 2001, where he led investor relations.

He went on to serve as finance director of Renault-Nissan Portugal in 2006, managing director of Renault Ireland in 2012, and CFO of the group’s Asia-Pacific region in 2013.

In 2017, he was appointed VP of finance, group control snalysis. He later became CFO of Dacia in 2022, then CFO of Alpine in 2023.

On 1 March 2025, he assumed the role of chief finance officer of Renault Group and joined the group’s leadership team.

The French car maker said the recruitment process for a new CEO is well advanced. Renault Group will present its half-year financial results on 31 July.

In preliminary financial figures for the first half of 2025, Renault today reported a small rise in revenue to €27.6 billion - up 2.5% compared to last year. Its operating profit margin stood at 6%, and it generated €47 million in free cash-flow.

However, this performance was affected by weaker-than-expected sales in June, increased pressure from competitors, and delays in billing that hurt short-term cash flow. The company also ended June with more vehicles in stock than planned, due to slower sales.

Because of these challenges, Renault said it was revising its full-year expectations. It now aims for a slightly lower profit margin of around 6.5%, down from its earlier goal of at least 7%, and expects to generate between €1 and €1.5 billion in free cash-flow - less than the €2 billion previously targeted.

To stay competitive in a tough market, Renault said it would ramp up cost-cutting efforts, including reducing spending in areas like administration, production, and research although added that it was confident that it was well-positioned thanks to a strong line-up of new cars, solid demand in Europe, and an efficient manufacturing network.