Henri Pinault's decision to hire Renault boss Luca de Meo is an audacious but necessary move to address the twin challenge of sagging sales and mounting debt at luxury group Kering, investors and industry players say.

The former chief executive of the carmaker Renault will replace Francois-Henri Pinault as the struggling company seeks a turnaround.

The appointment of de Meo, 58, marks a big change at Kering, owner of the Gucci and Saint Laurent brands, where François-Henri Pinault, a member of the family that controls the group, has been chair and chief executive for 20 years.

(Reuters) -Gucci-owner Kering has appointed Luca de Meo, currently CEO of French carmaker Renault, as its new chief executive, it said on Monday. Below are some facts about the new head of the French luxury group, whose brands include Gucci, Saint Laurent, and Bottega Veneta.

The struggling French luxury group is set to name Renault Chief Executive Luca de Meo as CEO, replacing Francois-Henri Pinault, people familiar with the matter said.

Luca de Meo, who resigned from carmaker Renault on Sunday, is widely tipped to succeed François-Henri Pinault at the management helm of the French luxury group.