The chairman of Volkswagen's Spanish brand Seat, Luca de Meo, announced Tuesday that he was stepping down as speculation swirls the Italian has been poached by French car giant Renault.

De Meo was leaving "on his own request and in common agreement with the Volkswagen group", Seat said in a statement.

It was issued after Renault's board of management last month voiced its preference for the 52-year-old to take on the role of chief executive, according to sources close to the matter.

French media have reported that he has been offered the job.

SEAT Executive Committee chairman Luca de Meo (pictured March 2019) is "leaving on his own request and in common agreement with the Volkswagen group"
SEAT Executive Committee chairman Luca de Meo (pictured March 2019) is "leaving on his own request and in common agreement with the Volkswagen group" AFP / Josep LAGO

Renault declined to comment when contacted by AFP.

If confirmed, de Meo would replace Thierry Bollore who was sacked in October as Renault sought to turn the page on a scandal-hit period sparked by ex-boss Carlos Ghosn's arrest on financial misconduct charges in 2018.

Renault and its Japanese alliance partner Nissan were plunged into turmoil after Ghosn's dramatic fall from grace, which prompted investigations of governance failings and deep revamps of their management structures.

Seat said its vice-president for finance, Carsten Isensee, "will assume the presidency of Seat until further notice" alongside his current role.

Volkswagen