
Baku Energy Week 2025 showcases Azerbaijan's energy diplomacy, renewables and regional influence
The event also underscores Azerbaijan's strategic role in energy diplomacy, with pipelines linking the Caspian Sea to Europe via the Southern Gas Corridor.
Discussions focus on balancing energy security, green transition, and geopolitical cooperation, reflecting Azerbaijan's evolving energy ambitions and partnerships with global players like Germany and Masdar.
Renault's share prices had dropped by 6.9% by early afternoon in Paris, while Kering was traded 9.6% higher, as Luca de Meo, the Italian CEO of Renault Group, suddenly resigned from his post on Sunday.
According to media reports, he will join the struggling Gucci-owner Kering as the global Luxury group's new CEO.
French carmaker Renault announced the departure of its CEO on Sunday evening, saying that Luca de Meo will stay on until 15 July 2025 and that the process to appoint a new Chief Executive Officer has already begun.
The Italian CEO has been in office for five years and saw Renault's share price nearly double under his watch as he oversaw a post-pandemic turnaround at Renault.
'For 5 years, Luca de Meo worked to put Renault Group back where it belongs. Under his leadership, our company has found a healthy base, it now has a magnificent range of products and has returned to growth,' said Chairman of the Board of Directors Jean-Dominique Senard.
Even though Kering has yet to confirm the appointment, hiring Luca de Meo fits the firm's efforts to transform the debt-laden luxury conglomerate.
The French fashion house, which owns brands including Gucci and Saint Laurent, has been struggling for years. The company has recently posted worse-than-expected results for the first quarter of the year. Sales of its flagship brand, Gucci, fell by 25%.
Kering has lost nearly 80% of its share price since 2021.
The 58-year-old Italian executive is going to be appointed as the CEO of Kering within the next few days, Bloomberg News reported, citing unnamed sources.
Kering's current CEO and President, François-Henri Pinault, appears to have decided to separate the two roles, with him retaining the latter, in an attempt to reorganise the struggling brand.
Kering has not responded immediately to Euronews' request for comment.
As for the next CEO of the Renault Group, several names are circulating, including Denis Le Vot, Dacia's CEO and Maxime Picat, director at rival Stellantis. Renault have yet to confirm any names.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Fashion Network
12 minutes ago
- Fashion Network
Newprinces open to further acquisitions after Carrefour's Italian business
Newprinces said on Thursday evening that it clinched an agreement to buy Carrefour Italia, the Italian unit of Europe's biggest food retailer, for an equity value of 1 euro (1.17 dollars). Under the deal, which also includes 420 million euros of real estate assets according to a slide presentation during the conference call, the enterprise value has been set at 1 billion euros. Newprinces shares were down 11.5% on the Milan stock exchange, hit by worries about the group's leverage after the recent acquisitions, according to a trader. Newprinces agreed this month to buy Kraft Heinz's Italian infant and speciality businesses, including the Plasmon, Nipiol and Aproten brands, and in June signed a deal to purchase Diageo 's operations in Italy.


Fashion Network
39 minutes ago
- Fashion Network
Vestiaire Collective's US chief adds company-wide marketing role to her remit
French luxury resale giant Vestiaire Collective has named its US CEO Virk as its chief marketing officer with the new role set to run alongside her existing US leadership post. In the dual role she'll oversee global brand and creative, social media, PR, and influence, while also leading the US business. This includes leading the commercial, merchandising, and consignment strategies from her base in New York City. The e-tailer called it a "milestone appointment [that's] especially significant given Samina's deep roots with the company. In 2015, she led the company's entry into the US market as its first US president, laying the foundation for what would become a pivotal region for the Paris-founded platform". And since rejoining in February 2023, she's "played a key role in driving substantial momentum in the US", transforming it into Vestiaire Collective's "largest and most dynamic" single market, now accounting for 20% of the business. Co-founder and president Fanny Moizant said the CMO appointment and her ongoing US leadership "reflects our ambition to continue accelerating brand awareness and growth, especially in the US market. It is a testament to her deep understanding of the business, her marketing expertise, and her ability to drive meaningful results. Samina brings creative vision and strategic rigour. Her unique position empowers her to grow both our brand and our community in the US and around the world". Her track record is certainly impressive. Apart from the time already spent with the company, her career includes senior roles at Target and eBay, and she held the positions of CMO and US president at Threads Styling before rejoining Vestiaire Collective.


Fashion Network
40 minutes ago
- Fashion Network
Newprinces open to further acquisitions after Carrefour's Italian business
Italian food and beverage manufacturer Newprinces said on Friday it would consider other acquisitions, if the opportunity arises, after buying Carrefour's loss-making business in Italy. "The M&A market is not something that you can control... If we find an interesting opportunity we will try to get it", Newprinces finance Fabio Fazzari said in a conference call. The Carrefour Italia deal won't change Newprinces plans for a potential public listing of its manufacturing unit on the London bourse, since the new assets will be put under a different division, Fazzari added. Newprinces said on Thursday evening that it clinched an agreement to buy Carrefour Italia, the Italian unit of Europe's biggest food retailer, for an equity value of 1 euro (1.17 dollars). Under the deal, which also includes 420 million euros of real estate assets according to a slide presentation during the conference call, the enterprise value has been set at 1 billion euros. Newprinces shares were down 11.5% on the Milan stock exchange, hit by worries about the group's leverage after the recent acquisitions, according to a trader. Newprinces agreed this month to buy Kraft Heinz's Italian infant and speciality businesses, including the Plasmon, Nipiol and Aproten brands, and in June signed a deal to purchase Diageo's operations in Italy.