Renault hires ex-Mercedes executive Katrin Adt to run Dacia brand

By Alban Kacher and Gilles Guillaume

(Reuters) -French carmaker Renault appointed former Mercedes-Benz vice president Katrin Adt as managing director of its low-cost Dacia brand, the company said on Monday, as it revamps its management team under new CEO Francois Provost.

Adt will succeed Denis Le Vot. Le Vot was among the frontrunners for the Renault chief executive job and will now leave the company, the group said.

It also appointed Fabrice Cambolive, currently head of the Renault brand, to the newly created role of chief growth officer for the group.

Renault named insider Provost as CEO in July, after the abrupt departure of former chief Luca De Meo.

Provost said the management changes would help the company move faster to adapt to current challenges. Renault is facing growing competition and weak demand that triggered a profit warning earlier this year.

“To meet all the challenges facing us, we need an organisation capable of making faster decisions, executing more efficiently, and being ever closer to its customers,” he said.

Adt was previously CEO of the Smart brand, and then CEO of Mercedes-Benz Own Retail Europe before most recently becoming vice president of corporate audit.

Adt’s focus on retail throughout her career will be important for Dacia, said Michael Foundoukidis, analyst at ODDO BHF.

“Dacia obviously is an extremely retail-focused brand, more so than others. So that brings in some new blood,” he said.

(Reporting by Alban Kacher and Gilles Guillaume. Writing by Dominique Patton; Editing by Joe Bavier)