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Provost worked closely with former CEO De Meo on strategy

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Will oversee implementation of a new strategic plan

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Appointment comes as Renault faces fierce competition

(Adds details on Provost, Renault strategy and context

throughout)

By Gilles Guillaume

PARIS, July 30 (Reuters) - Renault named

Francois Provost as CEO on Wednesday, opting for a low-profile

insider to steer the French carmaker through growing competition

and weak demand that triggered a profit warning earlier this

month.

The rapid promotion of its head of partnerships, less than

two months after former boss Luca de Meo's abrupt departure to

join luxury group Kering, comes at a critical time for Renault,

which was preparing to roll out a new strategic plan later this

year.

Little-known outside the group, Provost, 57, had spearheaded

the automaker's previous transformation plan unveiled in 2022 by

De Meo, and as director of partnerships, was heavily involved in

implementing the former CEO's vision of an asset-light approach

to compete with much bigger rivals like Stellantis ( STLA ).

"Thanks to his expertise and knowledge of the company, we

will be able to complete the implementation of our strategic

plan, finalise the terms of the next one, and ensure its

successful execution," Chair Jean-Dominique Senard said in a

statement.

Renault has fared better than many of its peers over the

last year thanks to a focus on Europe that largely insulates it

from trade turmoil caused by U.S. President Donald Trump's

tariffs.

But its reliance on Europe makes it more vulnerable to the

region's sluggish growth, and weaker-than-expected June volumes

led it to cut its full-year margin forecast earlier this month

and step up cost-cutting measures.

OVERSEAS EXPERIENCE AND BUILDING PARTNERSHIPS

The new strategic plan, dubbed "Futurama" by De Meo, aims to

continue modernising the group's vehicle range and building

partnerships to help Renault keep up in the electric vehicle

market, despite being smaller than many EV competitors such as

Volkswagen, Tesla and China's BYD.

Less of a product specialist than De Meo, Provost's

experience overseas and understanding of company strategy likely

won over the board, said Michael Foundoukidis, an analyst at

Oddo-BHF.

With more than 20 years' experience at Renault, Provost also

worked with De Meo on creating the EV unit Ampere, and brought

investors into the internal combustion engine and hybrid

powertrain business.

He has been pivotal in creating and extending Renault's

partnership arrangements, including its cooperation in South

Korea with China's Geely and the reshaping of

Renault's alliance with Nissan ( NSANF ), said Morningstar

analyst Rella Suskin.

A graduate of France's Polytechnique and Mines engineering

schools, Provost began his career at the Ministry of Economy and

Finance, before being appointed industrial advisor to the

defence ministry.

His understanding of the public sector could help in his

relations with the French government, one of Renault's largest

shareholders, with a 15% stake.

(Reporting by Gilles Guillaume and Dominique Patton; Editing by

Elaine Hardcastle, Richard Lough and Emelia Sithole-Matarise)