Tag Archives: peugeot

French automaker fires chief executive

Automaker Peugeot fired its chief executive on Sunday, replacing Christian Streiff with Philippe Varin, currently the CEO at Corus, an Anglo-Dutch steelmaker. “Given the extraordinary difficulties currently faced by the automotive industry, the Supervisory Board decided unanimously that a change in the senior leadership position was necessary,” said Thierry Peugeot, chairman of the PSA Peugeot Citroen supervisory board. “I am confident that under the leadership of Philippe Varin, the Group will be able, with all the teams, to unlock its potential.” Varin will officially take over Peugeot’s top post on June 1, but will begin “familiarizing himself” with operations starting next month

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Amid Crisis, Cars Start to Drive Europe Apart

When carmakers outsource most of their components, assemble their products in different countries around the globe, are majority-owned by foreign shareholders and sell mainly overseas, does it still make sense to promote them as national champions? Nicolas Sarkozy thinks so, albeit with some controversial conditions. Just before unveiling an $8 billion loan for French carmakers Renault and PSA Peugeot Citroen last week, the French President suggested the aid should be conditional on them packing up their plants elsewhere in the E.U.

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