Report – March could bring Tavares at PSA’s helm image

Two sources close to the situation told Reuters that Carlos Tavares could take over as chief executive of PSA Peugeot Citroen as early as March.

Peugeot, which is in talks on a capital injection from the French government and China’s Dongfeng, had previously only said that he would take over from current boss Philippe Varin sometime this year. Tavares, the former second in command at rival Renault, joined the loss-making French carmaker as CEO-in-waiting on January 1.

“Some observers had thought Tavares could take over by February 19 when Peugeot announces its annual results. That was the plan … but Philippe Varin wants to remain in his post until the Chinese president visits France in March,” said one of the sources. “Given that Varin played an important role in the Dongfeng deal, it is completely possible that the replacement can wait until March,” the source added.

Peugeot Chairman Thierry Peugeot told Le Figaro newspaper in an interview published on Saturday that the board would soon decide on the official date of the CEO transition.

Via Reuters