Photo: Renault
Pegueot has recently appointed a new Chief Executive Officer, in the person of Carlos Tavares, who had previously been Chief Operation Officer, before recently stepping down.
Tavares, who had said he was tired of being number two at Renault, will join the PSA Peugeot Citroen Board on January 1, 2014 and will become Peugeot CEO later in the year. The executive had left his COO position at Renault back in August.
The executive will replace Philippe Varin, who will continue to work with him until the transition is complete. The company needs to make efforts to return to the safe zone, with PSA being rather troubled at the moment. The company has been loosing serious money over the last few years, with job cuts and factory closings being on the table
Various reports indicate that PSA is currently talking with Chinese partner Dongfeng, aiming to secure a cash injection. Some voices claim that the CEO change was an effort meant to pursue the Chisese cash. It seems that the while Varin is close to the Peugeot family, Tavares' profile makes up a more solid business case.
Dongfeng is expected to partially acquire PSA. It’s interesting that Tavares negotiated a collaborationm between the Chinese company and Renault in his past position.
The executive will replace Philippe Varin, who will continue to work with him until the transition is complete. The company needs to make efforts to return to the safe zone, with PSA being rather troubled at the moment. The company has been loosing serious money over the last few years, with job cuts and factory closings being on the table
Various reports indicate that PSA is currently talking with Chinese partner Dongfeng, aiming to secure a cash injection. Some voices claim that the CEO change was an effort meant to pursue the Chisese cash. It seems that the while Varin is close to the Peugeot family, Tavares' profile makes up a more solid business case.
Dongfeng is expected to partially acquire PSA. It’s interesting that Tavares negotiated a collaborationm between the Chinese company and Renault in his past position.
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