Reports in France today said long-serving Renault finance chief Thierry Moulonguet would step down after almost 20 years next month for personal reasons.

Twp sources confirmed to Reuters an earlier Le Figaro newspaper report that said Renault banking unit head Dominique Thormann would replace Moulonguet.

Renault declined to comment.

Thormann, 55, reports to Moulonguet as head of RCI Banque, a role he has held since October.

He has worked at Renault and the Renault-Nissan alliance in a variety of finance-related roles since 1989.

Moulonguet has been Renault CFO since 2004.