French luxury group and Gucci-owner Kering has announced the appointment of former Renault CEO Luca de Meo as the new chief of the group. The strategic move strengthens the group's leadership and supports its growth trajectory.

By Gilles Guillaume, Mathieu Rosemain and Mimosa SpencerPARIS (Reuters) -Gucci owner Kering is poised to hire Renault Chief Executive Luca de Meo to help revive the debt-laden luxury conglomerate, five sources said on Monday,

After impressing with his turnaround of French automaker Renault, Luca De Meo is widely expected to be named as the new boss of Gucci owner and luxury powerhouse Kering.