FRANKFURT, Germany (AP) — French carmaker Renault has appointed two new executives in a restructuring that eliminates the post of chief operating officer.
Renault created the two positions after COO Carlos Tavares stepped down suddenly this month. At the time, Renault said Tavares wanted to pursue personal projects. Ahead of this week's Frankfurt Auto Show, Renault said Monday that Thierry Bollore will become chief competitive officer, in charge of developing the range of cars, while Jerome Stoll will be chief performance officer, focusing on the company's profitability.
Renault, like many European carmakers, is struggling amid years of falling demand in the European market. To cope, it has negotiated with unions to make contracts more flexible and has focused on sales outside Europe.