Renault CEO Goes Into Cost-Cutting Mode After Share Slump

As Renault SA’s former procurement head, Francois Provost was used to keeping a tight grip on the purse strings. Now as chief executive officer, he’s trying to convince investors that the automaker must become more like its lower-cost Chinese rivals.

A renewed focus on slashing expenses is expected to be part of a plan Provost will lay out Tuesday at a strategy day near Paris. The CEO has been looking to use more technology from Chinese partner Geely to lower development costs. But efficiency gains alone may not be enough to fix Renault’s worsening sales performance, which has contributed to a 20% slump in the share price this year.