Renault overhauls top management with Dacia boss leaving

Renault brand boss Fabrice Cambolive has been appointed chief growth officer, a newly created position meant to better coordinate strategy for the group’s key brands

Renault SA has started reorganizing its top management ranks as new Chief Executive Officer Francois Provost makes his first moves to stabilize the French carmaker.

Renault is tapping Katrin Adt, a longtime Mercedes-Benz Group AG executive, to succeed Denis Le Vot as head of the popular Dacia brand. Renault brand boss Fabrice Cambolive has been appointed chief growth officer, a newly created position meant to better coordinate strategy for the group’s key brands.

“We need an organization capable of making faster decisions, executing more efficiently, and being closer to its customers,” Provost said Monday in a statement.

The CEO has worked over the traditional August break to install new managers as Renault faces challenges including muted demand in Europe and the expansion of Chinese manufacturers led by BYD Co. In July, the manufacturer lowered its profitability outlook amid intensifying competition and a weakening van market.

Le Vot, whose work increasing market share at the Dacia brand made him a contender for the CEO role, decided to leave Renault.

The manufacturer appointed company veteran Philippe Brunet chief technology officer to accelerate innovation at the group. Anthony Plouvier, another long-term Renault manager, will succeed Provost as procurement chief.