France-based Renault Group has appointed Duncan Minto as its new CFO, effective from 1 March.
Minto, who has been with Renault since 1997, will take over from Thierry Piéton, who is leaving to pursue a new professional opportunity.
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Minto currently serves as the CFO of Renault Group’s sports car producer Alpine and has been in this role since October 2023.
Renault CEO Luca de Meo said: “Thierry has played an essential role in implementing Renault Group’s strategy, both in terms of performance management and his strong involvement in our structuring projects, and in improving the way the Group is perceived by the financial markets.”
As part of the Renault Group’s Leadership Team, Minto will report directly to Meo.
Meo said: “Thanks to his 25 years’ experience in finance and his extensive knowledge of the Group, and the automotive industry, Duncan will be fully primed to continue and even accelerate the actions already underway.
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By GlobalData“He will play a strategic role in the transformation of the Group and in the successful execution of the plan to unleash the full potential of our company.”
The change in CFO comes at a time for Renault, which has been undergoing restructuring and strategic overhaul after experiencing record losses in 2020.
Recently, reports emerged that the company commenced operations at its new electric vehicle (EV) R&D centre in China, as part of its commitment to the EV market.
Last week, Renault reported a 1.3% increase in global sales volume for 2024, with a total of 2.26 million vehicles sold.
The Renault brand itself saw a 1.8% increase, while the Dacia brand experienced a 2.7% rise in sales.
With over 105,000 employees, Renault Group is aiming for carbon neutrality in Europe by 2040.
