While fixing French carmaker Renault SA, Chief Executive Officer Luca de Meo pursued a hobby that would feed into his next job as CEO of Kering SA: A taste for the finer things in life, particularly Swiss watches.

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...