By Gilles Guillaume, Mathieu Rosemain and Mimosa SpencerPARIS (Reuters) -Gucci owner Kering is poised to hire Renault Chief Executive Luca de Meo to help revive the debt-laden luxury conglomerate, five sources said on Monday,

After impressing with his turnaround of French automaker Renault, Luca De Meo is widely expected to be named as the new boss of Gucci owner and luxury powerhouse Kering.

The big jump in Kering shares suggests investors are at least hopeful about Kering’s future, and Bernstein analysts noted that brand management and marketing are de Meo’s forte, as reported by CNBC. Kering shares have fallen more than 72% in the past four years as the company has struggled to convince customers—and investors—of its appeal.