Photo: PSA
The Peugeot Citroen Alliance (PSA) today announced the Linda Jackson, former Managing Director of Citroen UK, is set to become the CEO of Citroen. Jackson will replace Fréderic Banzet, the current CEO, as of June 1, 2014.
This makes CEO the second carmaker in the world to be led by a female, with this route having been opened by GM’s CEO Mary Bana. Still, we have to explain that while Bana leads General Motors, Jackson reports to PSA Chairman Carlos Tavares (who was previously Renault’s CFO).
Nevertheless, the two are similar as far as their careers go, as both have serious years in the business. Jackson has been in the automotive field for 35 years now, having served Citroen since 2005. Meanwhile, she has held various management positions within the company, being active in the UK and Ireland, as well as in France.
The new CEO has anything but an easy mission though. PSA is currently in the red and they’ve launched am ambitious comeback plan (Back in the Race) last month. The company wants to reach the break even point in 2016 at the latest. Subsequently, they aim for a 2 percent profit return for 2018.
Particular attention has been paid to Citroen’s DS premium line, which the company aims to turn into a separate brand. Speaking of this, the new DS brand will also receive a new CEO next month. This role goes to Yves Bonnefont, who is currently PSA Director of Strategy and Citroen deputy CEO.
As for Fréderic Banzet, he will receive a enior role in FFP (Société Foncière, Financière et de Participations), a PSA shareholder.
Nevertheless, the two are similar as far as their careers go, as both have serious years in the business. Jackson has been in the automotive field for 35 years now, having served Citroen since 2005. Meanwhile, she has held various management positions within the company, being active in the UK and Ireland, as well as in France.
The new CEO has anything but an easy mission though. PSA is currently in the red and they’ve launched am ambitious comeback plan (Back in the Race) last month. The company wants to reach the break even point in 2016 at the latest. Subsequently, they aim for a 2 percent profit return for 2018.
Particular attention has been paid to Citroen’s DS premium line, which the company aims to turn into a separate brand. Speaking of this, the new DS brand will also receive a new CEO next month. This role goes to Yves Bonnefont, who is currently PSA Director of Strategy and Citroen deputy CEO.
As for Fréderic Banzet, he will receive a enior role in FFP (Société Foncière, Financière et de Participations), a PSA shareholder.
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