Shares of Kering, the luxury-goods company behind Gucci, Yves Saint Laurent and other brands, rallied as much as 10% on Monday after reportedly luring Renault’s chief executive to run the company.

Kering SA shares surged as the owner of the struggling Gucci fashion label prepares to name the chief executive officer of Renault SA as its next CEO in a bid for a turnaround.

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Kering shares rose after a report that the Gucci owner will split up the chief executive and chairman roles and appoint Renault boss Luca de Meo as its new CEO.

Kering setzt bei seinem nächsten Vorstandsvorsitzenden auf den Noch-Renault-Chef. Der Italiener hat den französischen Automobilhersteller erfolgreich saniert und soll seine Fähigkeiten nun auch beim angeschlagenen Modelabel Gucci unter Beweis stellen.

Johnson co-stars with actors Chris Evans and Pedro Pascal in Materialists. The actress plays a matchmaker who finds herself stuck between two romantic prospects—a wealthy bachelor who is her "perfect match" on paper, and her flawed ex-boyfriend.

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.

Authorities in Ho Chi Minh City have shut down two stores at Saigon Square for selling fake Hermes, Louis Vuitton, and Gucci products priced from as little as $6, as part of a crackdown on counterfeit goods.