PARIS (Reuters) -Renault named Francois Provost, its chief procurement officer, as CEO on Wednesday, opting for a little-known company insider to steer the French carmaker through growing competition and weak demand that triggered a profit warning earlier this month.

PARIS (Reuters) -Incoming Renault CEO Francois Provost will take the helm of the French automaker at a time when it is beginning to show cracks in its recent success, revising down its full year profit forecast earlier this month due to weaker sales volumes.

Renault appoints Francois Provost as CEO after Luca de Meo’s exit, facing EV pressure, trade risks, and a $10.97B Nissan-related write-down.