Renault Chief Executive Luca de Meo plans to step down in mid-July and pursue new challenges outside the automotive industry, with French newspaper Le Figaro reporting he is set to become the new boss of Gucci-owner Kering.

PARIS (Reuters) -Renault shares plunged on Monday while Kering soared as investors digested reports that the French carmaker's chief executive, Luca de Meo, was poised to become head of the French luxury goods group that owns Gucci.

LONDON (Reuters) -News of Renault Chief Executive Luca de Meo's decision to leave the French carmaker and subsequent reports of him being lined up to take charge at luxury goods group Kering has created a stir across their respective sectors. Here's some initial reaction from analysts.