Varin’s potential payout of 7.75 million euros over 25 years was called “inappropriate” by the French government given that PSA is cutting more than 10,000 jobs.
Tag Archives: Philippe Varin
PSA CEO succession seen as key to completing Dongfeng alliance deal
PSA/Peugeot-Citroen’s move to name former Renault No. 2 Carlos Tavares as its future CEO stands to help secure an alliance with Dongfeng Motor Corp., which may be the carmaker’s last chance to end its reliance on Europe’s slumping car market.
Carlos Tavares confirmed as next PSA CEO
PSA/Peugeot-Citroen has hired former Renault Chief Operating Officer Carlos Tavares to lead the French manufacturer out of a six-year slump in European demand that has sapped the finances of the region’s second-biggest carmaker.
PSA reaches deal with unions to cut production costs
PSA/Peugeot-Citroen has reached a deal with labor leaders to reduce fixed costs at French factories, a key step as it looks for new partners to expand and shore up its finances.
Unions representing more than 60 percent of workers signed an agreement to freeze salaries in 2014 and reduce overtime pay in exchange for investment guarantees and new models, the Paris-based company said in a statement.
PSA will continue building minicars with Toyota, report says
PSA/Peugeot-Citroen will continue to collaborate with Toyota in the minicar segment in Europe, PSA CEO Philippe Varin told a German car magazine, ending speculation that PSA’s tie-up with General Motors had put the cooperation at risk.
