(Reuters) -French carmaker Renault said on Tuesday its CFO Thierry Pieton was stepping down to pursue new opportunities elsewhere, leaving the company in better financial health than when he took on
Renault's CFO Thierry Pieton Resigns, Duncan Minto Takes Over
(Reuters) -French carmaker Renault said on Tuesday its CFO Thierry Pieton was stepping down to pursue new opportunities elsewhere, leaving the company in better financial health than when he took on the role two years ago.
Pieton, who departs on Feb. 28, will be replaced by Duncan Minto, currently chief financial officer of Renault Group sports car producer Alpine who starts on March 1.
Minto joined Renault in 1997 and held several positions within the group before becoming the CFO of Alpine in October 2023.
Renault shares opened down almost 2% before reversing course and were trading flat at 0855 GMT.
The surprise departure of Pieton comes as Renault completes a restructuring and an overhaul of its strategy following record losses in 2020.
It has reported sales growth in the last two years, outperforming larger European rival Volkswagen in 2024 with a small rise in volumes, though Renault faces a challenging market this year with tougher carbon emissions rules in the European Union, its biggest market.
Renault CEO Luca De Meo said last year that the rules could cost European car producers some 15 billion euros ($15.56 billion).
Renault is scheduled to report full-year earnings on Feb. 20.
($1 = 0.9638 euros)
(Reporting by Michal Aleksandrowicz, Dominique Patton and Gilles Gillaume; editing by Louise Heavens and Jason Neely)
