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 Kering announced Monday that it had appointed Luca de Meo, who helped drive automaker Renault out of crisis, its new chief executive as it tries to turn around the fortunes at its struggling flagship brand Gucci.

Gucci owner Kering said it was hiring Renault boss Luca de Meo as its new CEO to help revive the debt-laden luxury conglomerate, confirming reports that sent its shares soaring and those of Renault tumbling earlier 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.

LONDON (Reuters) -News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and subsequent reports of him being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors. Here's some initial reaction from analysts.

Johnson co-stars with actors Chris Evans and Pedro Pascal in Materialists. The actress plays a matchmaker who finds herself stuck between two romantic prospects—a wealthy bachelor who is her "perfect match" on paper, and her flawed ex-boyfriend.

François-Henri Pinault is stepping back as CEO of Kering, hoping Luca de Meo can pull Gucci and Saint Laurent’s parent company out of a slump.