Shares of French carmaker Renault plunged as much as 17% on Wednesday after the company lowered its 2025 guidance and announced the appointment of a new interim chief executive officer. The Paris-listed stock was last seen trading down 15.6%, notching a fresh 52-week low. It puts the company on track for its worst trading day since March 2020. In a trading update published late Tuesday, Renault said it is targeting an operating margin of around 6.5% this year, down from a previous forecast of around or exceeding 7%. The company is also aiming for a free cash-flow between 1 billion euros ($1.16 billion) and 1.5 billion euros, down from roughly or above 2 billion euros, previously. Renault also announced the appointment of Duncan Minto as interim CEO, following Luca de Meo's abrupt resignation last month after around five years at the helm of the company.