(Reuters) -Gucci owner Kering is planning to appoint Luca de Meo, currently CEO of French carmaker Renault, as its new chief executive, according to a report in newspaper Le Figaro.

Kering shares soared in early trade as investors and analysts cheered reports that industry outsider Luca de Meo was set to become group CEO.

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 head of French carmarker Renault, Luca de Meo, is to quit "to take on new challenges outside the automobile sector", the company said on Sunday.

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.

Bernstein luxury analyst Luca Solca thinks Luca de Meo should fix the management organization, and curb debt levels.

Shares of Kering popped on reports that it has appointed industry outsider Luca de Meo as group CEO. The French fashion house, which owns beleaguered brands Gucci and Saint Laurent, is embarking ...