Renault names Maure to new post of chief turnaround officer

PARIS -- Renault Group has named Nicolas Maure, currently chairman of the Eurasia Region for the automaker, to the new position of chief turnaround officer. Maure will report to CEO Luca de Meo and join the group’s executive committee.

Maure will retain his post as head of Eurasia, where he will continue to report to Denis Le Vot, the head of regions, sales and marketing. 

De Meo took the helm of Renault on July 1 as the automaker reported record losses for the first half of 2020. He started his turnaround efforts last week by announcing that Renault would reorganize around its brands -- Renault, Dacia, Alpine and new mobility -- rather than regions.

Earlier this year, Renault announced a 2 billion euro ($2.37 billion) cost-cutting initiative, and De Meo is expected to present a new strategic plan at the start of 2021.

Maure will play a key role in the turnaround, de Meo said in a news release. "He will be responsible for proposing and driving an action plan aimed on the one hand at a major reduction in our fixed and variable costs, and on the other hand at generating revenues and cash," de Meo said. 

Maure started his automotive career at suppliers Valeo and Faurecia before joining Renault in 2000 as purchasing director for parts and accessories. In 2006 he became director of the Dacia powertrain plant in Romania. Two years later he was named vice president for powertrain at the Renault-Nissan purchasing organization. In 2013 he was promoted to vice president of group manufacturing performance.

He became CEO of Dacia in 2014, and in 2016 became president and CEO of Renault’s Russian subsidiary and Lada maker AvtoVAZ. He led a turnaround of the money-losing Russian market leader. He was named to lead Renault Group’s Eurasia region, which includes Russia, the former Soviet Union states and Turkey, on Jan. 1, 2018.