Jan. 29 (UPI) -- French automaker Renault has appointed former Volkswagen executive Luca de Meo its new CEO.
In a statement Tuesday, Renault said the 52-year-old former executive of Volkswagen's Spanish SEAT brand will be taking over the position July 1 from interim CEO Clotilde Delbos who will continue in her position as CFO.
Renault Board of Directors Chairman Jean-Dominique Senard said he was "delighted" with the new governance Meo will bring to the company.
"Luca de Meo is a great strategist and visionary of a rapidly changing automotive world," he said. "His expertise but also his passion for cars make him a real asset for the Group."
Goupe Renault, founded in 1898, now consists of five brands and is part of a unique alliance with Mitsubishi Motors and Nissan, but it has been on shaky ground following the arrest of its former CEO and chairman of Nissan, Carlos Ghosn.
Ghosn was initially arrested in November 2018 in Japan where he faces numerous charges, including breach of trust, underreporting his salary, siphoning payments from the automaker and funneling some $5 million in company funds to a private bank account.
Late last year, the disgraced executive with Brazilian, French and Lebanese citizenship, escaped from Japan for Lebanon while out on bail.
Ghosn was succeeded at Renault by Thierry Bollore, who was ousted less than a year in the position in October.
Meo began his career at Renault before joining Toyota Europe, managing brands such as Lancia, Fiat and Alfa Romeo. He then moved to Volkswagen in 2009 where he worked until resigning earlier this month.