Luca de Meo is a self-proclaimed ‘car guy’ who turned Renault Group around and reinvented Alpine – so his abrupt departure for the world of luxury goods is a sign of headwinds coming for the car indus

Renault SA is under pressure to quickly find a replacement for Chief Executive Officer Luca de Meo after the shock news of his planned departure, as the industry grapples with rising trade tensions and intense competition from Chinese manufacturers led by BYD Co.

The big jump in Kering shares suggests investors are at least hopeful about Kering’s future, and Bernstein analysts noted that brand management and marketing are de Meo’s forte, as reported by CNBC. Kering shares have fallen more than 72% in the past four years as the company has struggled to convince customers—and investors—of its appeal.