Gucci parent, Kering, appointed Renault's former CEO, Luca de Meo, as its chief executive, as the company struggles to improve its weak performance.

The struggling French luxury group is set to name Renault Chief Executive Luca de Meo as CEO, replacing Francois-Henri Pinault, people familiar with the matter said.

A series of delicate issues awaits the Italian executive, who comes from Renault: an unfavorable economic climate, significant group debt and the collapse of sales at flagship brand Gucci. Financial markets have responded positively to the announcement of his appointment.

LONDON (Reuters) -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. Here's some initial reaction from analysts.