PSA Peugeot-Citroen named Yves Bonnefont to be Citroen’s deputy CEO.
Veteran industry executive manager Yves Bonnefont , 42, will be responsible for the expansion of the upscale DS brand and the global expansion of Citroen’s C-line compact vehicles. Bonnefront will keep its current position as PSA’s strategy director and will report to CFO Frederic Banzet.
At the beginning, Bonnefont will focus on the launch of the DS sub-brand in China, where, according to the automaker, the products will have their own distribution network, compared with Europe where DS vehicles are sold together with other Citroen models. Citroen plans to win higher margins by expanding its DS line worldwide, while at the same time boosting sales of the C-line vehicles by focusing more on value and cost of ownership. The automaker plans to draw a line between the Citroen and Peugeot brands, moving the later upmarket.
Bonnefont joined the auto industry career in 1994 working in production at PSA’s Rennes plant, France, alter heading Arthur Andersen’s French automotive division and becoming a partner at McKinsey. In January 2012 he returned to PSA Peugeot Citroen as group strategy director and worked on the repositioning of the Peugeot and Citroen brands.
Source: Automotive News Europe