While fixing French carmaker Renault SA, Chief Executive Officer Luca de Meo pursued a hobby that would feed into his next job as CEO of Kering SA: A taste for the finer things in life, particularly Swiss watches.

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.

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.