Peugeot family will still be influential in PSA, says Robert Peugeot

Article by Christian A., on May 20, 2014

The Peugeot family will still be influential in PSA/Peugeot-Citroen even after its stake in the French carmaker has dropped to 14 percent from 25.5 percent, according to Robert Peugeot, head of the FFP family holding company. The family’s stake in PSA dropped to 14 percent as part of a EUR3 billion capital increase scheme that also saw Dongfeng Motors and the French state each taking equal holdings in the French carmaker.

Robert noted to Les Echos that the family has three representatives on the board, with him chairing the strategic committee. He remarked to the French business daily Les Echos that the family would not, at any time, withdraw from the carmaker.

He remarked that the Chinese group won’t be able to take control of PSA since any of the three shareholders cannot raise their holdings without the nod of the other two. He also dismissed speculations that the family’s hold on PSA has become fragile after the disclosure that family member Frederic Banzet will be replaced as head of the Citroen brand on June 1, by Linda Jackson.

Robert Peugeot remarked that they don’t have “a tradition of patronage” at Peugeot. He quipped that while General Motors had been PSA's preferred partner, executives at the US carmaker were so “afraid” of the situation in France and in Europe that they chose to limit the alliance to just three European projects.

He added that PSA has already dismissed deeper ties with BMW and Mitsubishi. He added that that a closer link with BMW “would not be a wedding but a surrender" since the German carmaker is 10 times more financially capable than PSA, noting that the two company had few common needs. [source: automotive news - sub. required]

Topics: psa, peugeot

If you liked the article, share on:

Comments

Recommended

J.D. Power has officially released the 2017 Vehicle Dependability Study, an annual list of the most dependable brands in the auto industry. Once again coming on top is Lexus, the...
by - February 26, 2017
Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 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