In a July interview with Bertrand Gay, a France-based correspondent for Automotive News Europe, Gregoire Olivier -- chief of PSA/Peugeot-Citroen's operations in China and Russia -- stopped short of confirming rumors that the French carmaker has already chosen its next chief executive. Olivier has been tagged as the front-runner to succeed current PSA CEO Philippe Varin.
Already a member of PSA's management board since 2007, Olivier also stopped short of confirming that the next CEO is already in charge of the carmaker. He told Gay that he and other members of the management board at PSA had their contracts renewed in April for four years. He then told Gay to ask him again whether PSA has already chosen the next CEO, "in a few years."
Varin's stay in PSA remains solid after the PSA posted better-than-expected results in the first half of 2013, allowing the carmaker to inch closer to the CEO's goal of breaking even by 2015. However, Varin just turned 61 and will be 65 in four years, which may mean that age could get the better of the current CEO. This also means that Olivier, who will turn 57 in four years, would not have to wait that long to assume the top post at the French carmaker.