Renault interim CEO Clotilde Delbos will leave nothing off the table – including F1 – when the company conducts a major strategic review of its future in the coming months.
Delbos was named temporary CEO of Renault following the dramatic ousting by the company’s board of directors of Thierry Bolloré on October 11.
Just a week into her tenure at the helm, the 52-year-old executive has called into question the six-year ‘Drive the Future’ plan initiated in 2016 by disgraced leader Carlos Ghosn.
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Among the activities that could be targeted by Delbos’ strategic review is Renault’s high-profile presence in F1, the fruits of which have yet to be reaped by the French manufacturer.
“It is like a normal process. It is just not a minor review,” Delbos said in a conference call with investors on Friday.
“We are really launching a deep review of our ‘Drive the Future’ plan in order to take into account the new context of the market, the change in usage, mobility etc. and the current situation of the group.
“Everything can be on the table at some point. This is a deep review of our strategy and of our plan.”
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Like several of its rivals, Renault has yet to commit to Formula 1 beyond 2020, with teams waiting for the finalization of the sport’s regulations, expected by the end of the month, before signing on – or off – to Grand Prix racing’s future.
Ghosn instigated with much fanfare the ‘Drive the Future’ plan and considered Formula 1 a major component of his strategy in terms of image and technology.
However, Renault’s results in F1 have to date fallen short of expectations and targets.
The Group’s 11.3 billion euros revenue weakened in the third quarter of 2019 by 1.6%, impacted by a drop in production by partners Nissan and Daimler, and a declining demand for diesel engines.
The company also revised downwards its growth forecast for the global automobile market.
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