Similarly,
Duncan minto appointed interim managing new: Consequently,
Duncan minto appointed interim managing:
Renault’s financial director. However. Nevertheless, the Ecossais Duncan Minto. Meanwhile, 50, was appointed Tuesday July 15 at the head of the acting French car manufacturer, while the group replaces Luca from Meo who left for the luxury giant Kering. For example, The appointment process of the new Managing Director “Should not last long”underlined, at a press conference, Mr. Similarly, Minto, who had his entire career in the Renault group.
Taken short in mid-June by the announcement of the surprise departure of Muca de Meo. the management of Renault had immediately launched the process of appointing a new managing director. But a month will not have been enough to decide between the prolonged candidates. including the boss of Dacia Denis Le Vot and the ex-figure of Stellantis Maxime Picat.
The French automaker has revised its annual objectives to the decrease due to the “Damage to the. dynamics of the automotive market”also said Duncan Minto on Tuesday. It now targets operating margin around 6.5 % of duncan minto appointed interim managing new turnover. against a margin greater than. equal to 7 % previously, and duncan minto appointed interim managing free financial duncan minto appointed interim managing new flows between 1 and 1.5 billion euros, compared to 2 billion euros or more planned previously.
“Increased commercial pressure” – Duncan minto appointed interim managing – Duncan minto appointed interim managing new
In June. Renault recorded sales volumes “Slightly below expectations”. met “Increased commercial pressure linked to the continuation of the drop in the market” individuals. A « sous-performance » Sales of utilities on a high -fall market in Europe has also spoiled the painting.
Group’s turnover reached 27.6 billion euros in the first half, still growing 2.5 %. But the operating margin has only reached 6 % of turnover. available cash flows fell to 47 million euros due to high production and stocks of car stocks “Raising” over six months.
Renault will ” to strenghten “ Its cost reduction plan. which includes a drop in general. administrative costs but also a reduction in production. research and development costs, said Duncan duncan minto appointed interim managing new Minto.
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