Renault (RNLSY.US)s Turnaround Captain Demiao, the stock prices of the two groups are like ice and fire.

According to the Wisdom Financial APP, Kering Group - the luxury goods giant that owns famous luxury brands such as Gucci, is preparing to appoint Luca de Meo, current CEO of Renault (RNLSY.US), as its next CEO in order to reverse its struggles in the luxury goods market. Upon this news, the market reacted strongly with Kering Group's stock price rising 8.3% in early trading in Paris, marking the largest increase in over two months, while Renault's stock price fell.