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

Article by Eugene Conan, 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

Mercedes-Benz Vans, one of the world’s top van makers, has just launched adVANce, which is their strategic transport industry initiative for the future. With this, the division analytically considers its...
by - September 29, 2016
In 2007, when Nissan first introduced the R35 Nissan GT-R at the 2007 Los Angeles Auto Show, the car carried with intense power and a price tag of $78,000. Up...
by - September 29, 2016
Bentley Motors has just released the specs of the new Bentayga Diesel. Obviously, we couldn’t wait to share it here since it’s the first ever diesel model to come out...
by - September 26, 2016
A big chunk of Volvo Cars’ legacy in developing the most durable and capable car is evident in its latest Cross Country collection. Suffice it to say, our planet has...
by - September 21, 2016
Just very recently, we were all delighted to finally see a Bugatti Chiron out in the streets casually hanging around Cannes in France. The said car was purchased by a...
by - September 9, 2016