Candidates for new PSA supervisory board chairman trimmed to 2

Article by Christian Andrei, on March 14, 2014

PSA/Peugeot-Citroen is nearing decision over who will become its supervisory board chairman after narrowing the list to ex-Airbus Group chief executive Louis Gallois and ex-Nexans CEO Gerard Hauser, a person privy with the matter told Bloomberg. Thierry Peugeot currently holds the post.

The selection of a new chairman is part of a wider reorganization at PSA that will see board seats of the founding Peugeot family reduced to two from four. The French state and Dongfeng Motor Corp., which have agreed to acquire 14 percent stakes each, will also each have two seats. According to the source, both Gallois and Hauser have already went to China to meet with Dongfeng.

Gallois is currently a member of the PSA board as the representative of French government. He is backed by President Francois Hollande and is the leading candidate. The Peugeot family has elected its two main holding companies -- EPF and FFP – to represent it on the board, the person told Bloomberg.

FFP and EPF are headed by Robert Peugeot and Jean-Philippe Peugeot, respectively. A decision on whether the two cousins will continue their mandates as chiefs of the holding companies -- has yet to be reached, the person disclosed. PSA's board will meet March 18 to for the final decision, the person told Bloomberg. [source: automotive news - sub. required]

Topics: psa

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Ford has just recently unveiled the 2018 Ford Mustang, and as it turned out, the carmaker gave its beloved pony car a facelift. There have been mixed reactions about the...
by - January 19, 2017
The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Each time that Mini launches a new generation of the Countryman crossover, a John Cooper Works performance version is always expected to follow. When Mini unveiled the next-gen 2017 Mini...
by - January 18, 2017
Ford Mustang customers won’t be able to specify the V6 powerplant for the latest iteration of the carmaker’s pony car. This comes as the new 2018 Ford Mustang is saying...
by - January 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries