Carlos Tavares wants to transform PSA/Peugeot-Citroen into a champion

Article by Anita Panait, on March 10, 2014

The incoming chief executive of PSA/Peugeot-Citroen, Carlos Tavares, attended the Geneva Motor Show in a manner that a few would expect. Weeks before becoming the top guy at the struggling French carmaker, Tavares bears no semblance of edginess. He said that attending his first car show since joining PSA “is very pleasant,” adding that he is “a lucky guy.” 

While he says that, the harsh reality is that is facing a very tough job of trying to turn around a carmaker that has incurred over EUR6 billion ($8.2 billion) in losses over the past two years. He will become CEO of the French carmaker starting March 31, 2014, succeeding outgoing leader Philippe Varin.

The challenges ahead of Tavares are not that easy to hurdle, as the he is taking over a PSA: that has seen its market share in western Europe drop to its lowest in over two decades; that has the founding family relinquish control; that has agreed allow the French state and Dongfeng Motor Corp. acquire 14 percent stakes.

The agreement could be considered both a blessing and a curse for Tavares. While it would boost the carmaker’s finances by EUR3 billion, allowing it to pursue expansion plans in China, Russia and Brazil, it might prove to be a big hurdle to Tavares’ plans, according to Bruno Mathiez, the head of Renault’s works council. [source: automotive news - sub. required]

Topics: psa, ceo

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 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