French luxury group and Gucci-owner Kering has announced the appointment of former Renault CEO Luca de Meo as the new chief of the group. The strategic move strengthens the group's leadership and supports its growth trajectory.

Kering said it was hiring Renault boss Luca de Meo as its new CEO, confirming reports that sent its shares soaring and those of Renault to multi-year lows earlier on Monday.

A U.N. push for investment to protect the world's oceans yielded around $10 billion in deals at a conference last week, way below the estimated annual need as many investors seek clearer regulation on...