Renault CEO Luca de Meo is leaving the French carmaker to pursue a role outside the auto industry, the company said on Sunday, and newspaper Le Figaro reported he would become the new chief executive of Gucci-owner Kering.

Kering SA is set to name the chief executive officer of Renault SA as its next CEO, looking to an Italian manager who’s turned around the French automaker to perform a similar role at the owner of the struggling Gucci fashion label.

Luca de Meo, CEO of Renault, is set to leave his position to lead luxury brand Kering as the company faces challenges in revitalizing its flagship brand Gucci. His departure marks a significant change after five years at Renault,