Introduction to a New Challenge
Luca de Meo announced his resignation as CEO of an automotive company, effective July 15, in a letter to employees. He expressed his intention to start a new transformation challenge in a different industry, where he will have to learn and grow.
New Role and Expectations
De Meo was appointed Chief Executive Officer of a luxury conglomerate. The company’s chairman will remain in his role. The news of De Meo’s appointment led to a surge in the company’s shares. However, he faces a significant task ahead, as the company’s share price has been declining since its peak in mid-2021.
Challenges Ahead
The decline in share price is largely attributed to falling sales at the company’s largest brand. De Meo will need to address this issue to restore the company’s growth and profitability. With his experience in leading transformation challenges, he is expected to bring new insights and strategies to drive the company’s success.
